If you are looking for gap insurance it is difficult to know which level of cover is best.

After all some gap insurance companies spend thousands and thousands of pounds on super slick websites and systems, lots of marketing and gimmicks.  Each gap insurance company in their own way all professing to be the UK’s number one, the best in the market and the most comprehensive. Some even have so called comparison tables ?  The problem is that it would be very difficult for any one who is directly involved to be totally impartial.

So how do you sort the fact from the fiction in the world of gap insurance?

How do you know that you are buying the best and most suitable level of gap insurance for you?

Sorry there is no substitute you have to read the gap insurance policy documents in full. So ignore the pretty pictures and the promises and simply concentrate on what is in your policy terms and conditions. After all it is an uncertain world that we live in and while we are not suggesting for one millisecond that there is any question of any gap insurance suppliers liquidity things can change. After all you could be considering buying a gap insurance policy for anything up to 5 years and 5 years is a very long time.

Lets be honest no-one ever thought that some of the Uk’s and worlds largest banks, building societies and high street brands would fall into difficulty but they did. So heaven forbid if anything unexpected ever happened to your gap insurance supplier it is only the terms and conditions written in black and white that would be used to settle any claim.

A slight shortcut is perhaps to visit an independent specialist source. for example Defaqto are an independent financial services and soft ware company who specialize in analysis and comparing financial products and funds from motor insurance to savings accounts, from credit cards to mobile phone insurance and now motor gap insurance.

They compare gap insurance policy terms and conditions and rate a product accordingly from one to five stars.  They ignore all the gimmicks and in fact price is not even a consideration instead they concentrate on the important issue of police terms, conditions and performance.

So before you buy gap insurance why not compare levels of cover as well as value for money.