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Some examples where we believe Aequitas Automotive have shown the way forward with new features:
- The first UK provider to offer stand alone 'deferrable' products for those who have replacement cover on their motor insurance.
- The first UK provider to announce its intentions to provide 5 year options for Combined Return to Invoice and Combined Vehicle Replacement products.
- The first UK provider to offer stand alone options for Taxi and Private Hire use.
- The first UK provider to offer taxi, motorbike or driving school cover on standard policies.
These are all aspects we believe that Aequitas Automotive Ltd led the market in, and we are please to say that many of these options have now been adopted by other providers. Whilst some may think that we may be unhappy seeing our ideas copied, we actually see it as a compliment, and overall the standards of Gap Insurance has been raised for consumers.
However it does not stop there.
Our approach of having three independent Gap Insurance brands is quite different to those of most of our online rivals. Our view is how can we say on one hand, that motor dealers are wrong in only offering one solution, from one underwriter, with one set of policy features, and then do exactly the same with one brand online?
In operating the GapInsurance123, Easy Gap and Shortfall brands we can ensure nearly all bases are covered. Got a vehicle that you want to use for a taxi? Try Gap123 or Easy Gap. Got a £140,000 vehicle? try Shortfall. Got a brand new Ford Fiesta and you want a choice? Try GapInsurance123, Easy Gap or Shortfall.co.uk!
The feedback that we get from our customers is that they appreciate that we can offer a choice that no one else can.
Having three brands means we have three times as much work to do, but in our view our approach offers the very best options for the consumer in our view.
However it is not just Gap Insurance where we look to excel. As part of our new Shortfall.co.uk brand launch in August 2013, we offered consumers a range of products alongside our Shortfall Gap. This meant that you could choose Tyre Insurance, Alloy Wheel Insurance, Scratch and Dent Insurance and Excess Insurance products also. What made this quite different was that you could buy these products 'stand alone', unlike many of our online rivals where you have to buy Gap Insurance in addition to any of these other products.
Following on from this we recently launched our new TyreInsurance123 brand, offering another 'stand alone' tyre product from a different underwriter from our Shortfall Tyre cover. This new brand featured options for older vehicles, and cover
for up to 4 years, something we do not have on Shortfall Tyre protection.Once again more choice for the consumer.
The result of our hard work is that we sit here being the top ranked Gap Insurance brand (GapInsurance123) in Google, and also have the honour of the only UK company to have three independent brands featured in the Which? Gap Insurance report, now three years old.
This does not mean we sit on our laurels, and having set the bar high for innovation we can provide a sneak preview of what new products you can expect from Aequitas Automotive Ltd in the coming months.
A new, revolutionary Gap Insurance product - Our experience in providing tens of thousands of Gap polices every years means that we may speak to hundreds of thousands of customers. We have always valued feedback, and had enabled us to improve our products. Without going into too much detail at this stage (although we know our new product will be copied it would be nice to be the first to launch it!), we are confident that our idea for a new Gap Insurance product will mean that it will stand above all others in the market. Ultimately it will be much better for the consumer, allow for better cover, offer better flexibility and much better features than any other Gap product in the market. We are confident that if we can fine tune the product in the coming months, we will see it adopted as the standard Gap product in the market in the coming years.
A new complimentary product for Contract Hire customers - Aequitas Automotive Ltd has always been recognised as offering excellent Gap Insurance products for Contract Hire and Lease vehicles. However, there is one aspect of the standard products in the market that we feel can be improved. Again, without disclosing too much detail at this point we feel that this additional product option will provide much more comprehensive cover for lease holders on contract hire vehicles.
A new Alloy Wheel Insurance cover - OK, we have kept quiet about the other products we are developing thus far, lets be a bit more open about our intentions for an Alloy Wheel policy. Whislt we have Alloy Wheel Insurance on offer via our Shortfall brand, this product is similar to many others in the market in that it will not cover diamond or laser cut alloys for a repair. With may manufacturer opting for these types of specialist finishes we see many disappointed consumers unable to get cover for these types of alloy wheels. Aequitas Automotive are working on a new Alloys Wheel Insurance product that will cover diamond and laser cut finishes.
A range of market changing Excess Insurance products - A relatively new market for Aequitas Automotive when we launched our Motor Excess Insurance options on Shortfall.co.uk in 2013. Again the interest in the product is clear, as well as some fairly standard questions from consumers. Sorry but again we will not reveal too much more at this point, but we are not too far away from being able to provide a range of Excess products that will be revolutionary in the market, and again may change the way these products are offered in the same way we hope our new Gap Insurance products will.
This range of Excess protection products will see the launch of a new brand by Aequitas Automotive Ltd in the coming months.
So as you can see, we do not let the grass grow under our feet at Aequitas Automotive. Our strength is that we always look for ways to improve, and we hope this means the ultimate goal of providing better products for the consumer is reached.
We will keep you posted with developments.