UK Consumers now buy an average of 42 months Gap Insurance from Easy Gap
(PRWEB UK) 12 November 2012
The UK car buying public are seeking to extend the ownership period of a new vehicle purchase say leading Insurance brand Easy Gap Insurance. A recent review of Easy Gap policy sales in the last year have shown that the average length of policy purchased is now 42 months, which is a clear indication that consumers are looking for longer periods of ownership. A spokesperson for the brand explained the recent results and how Easy Gap plan to evolve cover to suit consumer demand.
"Easy Gap are one of the best known Gap Insurance providers in the UK today. The Guaranteed Asset Protection products we provide are for a fixed multiple of years, and it is the consumers choice how long they wish to purchase cover for.
A recent review of Easy Gap policies sold in the last year show that the average length of cover sold is nearly 6 months longer than the previous year. The maximum length of cover we can offer on most policies is 4 years, however the average length of cover purchased is 42 months.
As consumers would consider a policy length to coincide with a desired length of vehicle ownership, Easy Gap feel this is a clear indication that consumers are looking to keep their new car for longer."
The Easy Gap brand believe that the results require changes to aspects of the features they offer, and the spokesperson explained that new changes are planned in the next few weeks.
"Easy Gap has always sought to move with the needs of the market, and we will introduce longer periods of cover beyond four years to our Return to Invoice and Vehicle Replacement policies in response to our findings."
The Easy Gap brand is part of Aequitas Automotive Ltd, a leading UK specialist insurance provider. The brand was also featured in the Which report on Gap Insurance in 2012.