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The Gap Insurance industry has been in the news in 2015. The new FCA rules on the sale of 'add on' Gap Insurance products by motor dealers come into force on September 1st. This promises to ensure that consumers are given time and awareness to compare the whole market for a solutions. At GapInsurance123 we think that there are definite signs that vehicle buying consumers are becoming more aware of their options outside of the showroom.
In July 2015 we have seen the second highest volume of policy sales in the history of our company. The result in July came only second to the new registration month of March 2015. It is significant that the month of July is not an expected 'peak' month linked with new car registrations. Indeed it falls in between the expected peaks of March and September, and may actually be a month we would expect a quieter month in reality.
Overall the month of July 2015 saw an increase of nearly 75% from July 2014, and this exceeds the general annual increase we have seen in 2015 of 40% from the year before.
So what are the reasons why?
Well of course we do think that the increased industry attention into Gap Insurance has raised the public consciousness. We see more and more website visitors month on month, and this equates to a decent upswing in sales. Of course we are an established and prominent brand in the Gap Insurance world, with a number of repeat and referred customers. All these factors combined mean that more people than ever before are looking online for their Gap Insurance protection.