No-one likes paying twice for something so a deferred gap insurance policy can be a good idea in certain circumstances.
So what is deferred gap insurance?
When you buy a new vehicle some insurance companies offer a replacement style of motor insurance in the 1st twelve months. What this meant is that if you bought a standard gap insurance policy you where infect paying twice for the 1st year. This used to be very common and most companies did it. However with increased costs more and more insurance companies are pulling away from offering this type of cover.
Sop please before you buy any form of deferred gap insurance policy check , check and check again that your own insurance company still offers this type of policy. If possible ask them to point out the section in the written documentation of your schedule.
Only when you are absolutely sure that you are covered within the first 12 months consider a deferred gap insurance policy.
So if you are lucky enough to have a motor insurer that still offers the new for old and are happy with your own motor insurance companies cover in the first twelve months there is no reason at all that you should not consider a deferred policy.
We know because we have searched the net that buying a deferred gap insurance policy may not seam as easy as you think. Some brokers offer it one way some another. We found a really easy deferred gap insurance provider who allowed you to simply buy a two year policy and tag it to start at the end of your own motor insurance cover. So essentially you had a total of three years cover.
This gap insurance provider is also underwritten by a big name insurance company and even offered up to five years cover. So you could buy a four year policy and benefit for the next five years.
Either way the choice as always is yours if you are lucky enough to have new for old from your own insurer why not benefit and buy a deferred gap insurance policy?