All you need to know about GAP insurance
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Has your GAP insurance underwriter gone bust?
There’s a reason that we don’t pursue the cheapest possible prices at all costs – sure, policies from A-rated insurers may well attract a higher premium but, crucially, they’ll almost certainly be there when you need them most! October 2016 – Enterprise Insurance (Gibraltar)August 2017 – Elite Insurance (Gibraltar)May 2018 – Alpha Insurance A/S (Denmark)…
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The Perils Of New-For-Old Cover. v.2
Lots of motor insurance policies claim to include cover for a brand new vehicle on a new-for-old basis during the first year of ownership. In theory this means that if your car is written off during the first year of ownership, your motor insurer will physically replace your vehicle with a brand new one. What…
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Leasing a car? Do you need GAP insurance?
If you’re leasing a vehicle, at some point you’re almost certainly going to be on the receiving end of a sales pitch for GAP insurance. If it’s not the motor dealer or agent that does it prior to you taking delivery of the vehicle, it’ll be the motor dealer’s customer services team or, the finance…
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How fast do we pay GAP insurance claims?
A number of our competitors make a song and dance about how they guarantee to settle claims within X number of days… recently we’ve had a motor dealer tell one of our potential customers that we take 30-days to settle a claim – in a poor attempt to justify the hundreds of pounds more that…
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FREE GAP insurance for £824?!
We’re often telling people to be wary of a Motor Dealer offering Free GAP insurance. In return we’re often laughed at by people who believe we’re just being alarmist with a view to lining our own pockets. But it really is the case that Free GAP insurance from a Motor Dealer should be approached with…
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The Perils Of New-For-Old Cover
A NEWER VERSION OF THIS ARTICLE IS NOW AVAILABLE. CLICK HERE TO SEE IT. It’s now becoming fairly common knowledge that many car insurance policies incorporate New-For-Old cover for a brand new vehicle until it reaches 12 months old. In principal this means that if your car is declared a Total Loss (written off) and…
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Enhanced Replacement GAP Insurance Cover
In the event of your vehicle being declared a Total Loss (written off) due to accident, fire or theft, your Motor Insurer will only pay you what they think the vehicle is worth at the time of loss. Replacement GAP insurance will then pay the difference between your Motor Insurance payout and what it would…
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Renewable 1, 2, 3, 4 or 5 Year GAP Insurance Policies!
In what we believe is genuinely a UK first for GAP insurance, we’re formally announcing today that if you buy a 1, 2, 3, 4 or 5-year Invoice or Replacement GAP insurance policy from us, when that policy approaches expiry we’ll give you the option of extending/renewing the policy for another one or in some…
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UPDATED – How Do Our Gap Insurance Policies Compare to those from our competitors?
We are repeatedly asked how our policies compare to those available from our competitors and whilst we know our policies (and most of our competitor’s policies) inside out, we recognise that it can be a bit of a minefield to the uninitiated. With this in mind, on June 23rd 2013, we spent a considerable amount…
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Shortfall.co.uk have been in touch…
On August 22nd, we updated our report detailing how our GAP insurance policies compare to those available from each of our online competitors. In the report, we highlighted the fact that it wasn’t entirely clear whether the Shortfall.co.uk policies incorporated a ‘Market Value’ clause (in terms of the Motor Insurer’s payout) or not. Perhaps not…