We get emails and comments from lots and lots of people and well as some just trying Internet marketing ( no more please) sent to the buy gap insurance contact team.
Some are funny, informative, general questions and some are really alarming and what can only be described as miss guided. So with this in mind once and for all we wanted to take the time to explain the world of gap insurance.
We want to set the record straight you do not have to buy gap insurance and if you do it should be your choice!
We have recently had an email from a mature gentlemen who is buying a new small car. It is costing him a lot of money and he was very worried. His sales executive has told him that as part of their duty of care he is responsible when he drives off the forecourt and as such he must take gap insurance. This extra money meant he was considering having to take a form of finance which was not something he had wanted to do. To make matters worse they where charging the specially reduced cost of £595 and just £395 for paint protection. This extra nearly £1000 was something that he simply had not budgeted for.
Now don’t miss understand us we do not think that 99.9 % of main dealerships would ever resort to these tactics when trying to tempt a customer to buy gap insurance but lets just set it all out in black and white. After all if you understand all the facts there can never be any confusion over what to are legally required to have and what may just be best practice.
Your dealership has a duty of care to only you the facility to protect yourself with gap insurance. That is true. But if you say no, or not interested and sign to say that you where offered the opportunity to buy gap insurance and decided not to that is where their duty of care stops.
It is not a legal requirement to buy gap insurance.
Even if you decide that you want to buy gap insurance you do not have to buy it from your dealership and can buy gap insurance independently normally for a fraction of the cost.
Gap Insurance is unlike many other forms of items or services we buy as the price you pay is no reflection of the level of cover you will get should you ever need to make a claim. Instead there are factual reasons which means that your dealership will never be as competitively priced.
We live in the real world and know that price is important and that all of us need to make sure that every penny works hard however price is just a small aspect as the gap insurance policy terms and conditions you agree to are ultimately the most important aspect of any policy. Unfortunately you only ever really know how good a policy is when you need to make a claim and then its too late to discover that you miss understood a term or that you where not eligible.
After all it is your money and your vehicle. Well you know by know that we think gap insurance is a good idea but that is our opinion. If you want to protect your vehicle and buy gap insurance you can if you don’t want to you don’t have to.
As we said time and time again it is your vehicle your money and you who would have to deal with any consequences and financial ramifications and always your choice whether you buy gap insurance and please please do not let anyone else tell you otherwise!