What are the differences between gap insurance that you buy from your local dealership and gap insurance bought on line?
Is the a difference with on line gap insurance specialists or should you buy from the dealer?
We are constantly told that you get what you pay for and than quality counts. This however is not true when it comes to the world of gap insurance. When you compare gap insurance policies that you buy from dealerships as apposed to on line sources you should for a moment forget the price.
Yes Ok the price you pay for your gap insurance is important but it is more important to find a level fo cover that performs they way you want it to. After all it is too late to find out that you misunderstood something or how a certain part of the policy would act when you are in the middle of making a gap insurance claim.
The gap insurance price differences are easily explained, Differences in rates of IPT, Supplier prices and risk spread means that in all cases we have ever heard of dealerships can not be as competitive on price.
So instead now lets simply concentrate on policy terms and features. After all when it comes to insurance of any kind gap insurance included there can never be any grey areas or areas open for interpretation. So only terms and conditions set out in your gap insurance policy will matter.
Don’t forget that in most cases just like your dealership your on line gap insurance provider will not be the company who ultimately settles any claim instead just like your dealership the policy will be underwritten by an insurance company. This means that what ever has been promised over and above these terms and conditions remains with the dealership or provider and would therefore be very difficult to enforce.
So to summarize should you gap insurance from the dealer well not until you have completely compared prices and terms and conditions, just because it is supplied by your dealership does not mean that it is in any way better quality or will perform any differently than that supplied by independent gap insurance sources.