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Compare Gap Insurance quotes carefully!


It has been yet another recording breaking month for GapInsurance123. The phone lines and website have been inundated with customers seeking to protect there financial investment in their car, van, motorbike and alike.

Amongst the many busy calls taken in the sales office, our advisors have taken a number of disturbing calls from customers comparing our Gap Insurance quotes with those of a number of other brokers. GapInsurance123 was highlighted in 2012 as providing the cheapest UK premium prices for 5 out of 6 quotes gained by Which magazine. We do not use voucher codes or hidden discounts with our products, you get the best price each and every time. However, we do recognise that we are only human, and that other brokers may have lower premiums for certain price parameters. We do offer a price match facility, and guarantee to beat any like for like quote, but in all honesty we have rearly had to use it. However, recently we have taken a number of calls from customers who apparently had cheaper quotes elsewhere. This had us intrigued!

Compare all aspects of 'cheaper' quotes



Upon investigating the 'quotes' provided, we discovered a disturbing pattern emerging. When a customer gets a quote over the phone they are asked the purchase price of the vehicle, the length of cover required, and finally the 'claim limit' of the policy. The claim limit is very important as it is the maximum you can claim on your Gap Insurance policy, and if this is too low for the type of cover and duration of the policy, this could leav an unsuspecting customer very exposed in the event of a claim.

Whilst we would not tell you which claim limit to take, we would explain your options to you. We understand another gap insurance broker online actually provides a 'suggested claim limit' on its quote section. These seem wholely appropriate, and we applaud their direction on this.

However, we understand that another provider is generating quotes with, in our opinion, dangerously low claim limits. For example, a customer had a £23,000 vehicle, and was quoted 4 year Return to Invoice with (as it transpired) a £5,000 maximum claim limit. This means you are reliant on the vehicle only losing £5,000 in value in four years, which is clearly unlikely!

Why is this happening, well whilst we do not know for sure which provider is doing this, it may be that they are trying to provide artificially lowered quotes by using low claim limits. This, to an unsuspecting consumer, may seem to provide good value, but come making a claim it could provide completely inadequate cover.

Take care with your Gap Insurance quotes



We strongly urge you to compare all aspects of the quote, from length of cover to claim limit. We are happy to report that the customers who have reproted this to us have all bought GapInsurance123 policies with much more appropriate claim limit requirements.

We also hope that the gap insurance provider, who ever they may be, will change this tactic soon to prevent a customer under insuring themselves unwittingly.