I'm contemplating buying Gap Insurance for a new BMW - any recommendations on providers?
I've heard you get ripped off at dealership, much better to buy from the internet.
1
Best Gap Insurance Provider?
Started by timgrimes, Aug 20 2012 07:48 AM
1 reply to this topic
#2
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Posted 29 August 2012 - 03:51 AM
Hi
Most dealers offer supplementary insurances such as Tyre Insurance and GAP Insurance but will build in large profit margins with each policy they sell. Some of our staff have previously worked in BMW and MINI dealerships (as the business managers who offer GAP Insurance!) - so we know from experience that when a dealer sells a GAP policy they are often retailing a 3 Year Return To Invoice GAP Insurance at £499 or higher!
Online, we can offer the same type of GAP Insurance from as little as £120.
Dealers will also usually offer a 3 year policy (and these cannot be renewed or extended once the policy ends) but as GAP Insurance specialists we can provide a choice of periods of cover ranging from 1 to 5 years.
If you are seriously considering buying Gap Insurance, you should shop online - but shop smartly.
The policy Terms & Conditions can vary considerably from one provider to another - even when the policy is underwritten by the same Insurer, so always read the policy Terms to see what features are included and more importantly what exclusions or limitations there are. Also, whilst most dealers offer the Return To Invoice GAP, there are actually three different types of GAP cover available so that customers can choose a policy that will suit their specific requirements.
All customers who purchase a policy are protected under the Financial Services Compensation Scheme (FSCS) in the same way as they would be with a policy purchased from a dealer.
If you need detailed information or assistance, please feel free to get in contact with us - we are always happy to help :-)
We hope you enjoy your new BMW!!
Most dealers offer supplementary insurances such as Tyre Insurance and GAP Insurance but will build in large profit margins with each policy they sell. Some of our staff have previously worked in BMW and MINI dealerships (as the business managers who offer GAP Insurance!) - so we know from experience that when a dealer sells a GAP policy they are often retailing a 3 Year Return To Invoice GAP Insurance at £499 or higher!
Online, we can offer the same type of GAP Insurance from as little as £120.
Dealers will also usually offer a 3 year policy (and these cannot be renewed or extended once the policy ends) but as GAP Insurance specialists we can provide a choice of periods of cover ranging from 1 to 5 years.
If you are seriously considering buying Gap Insurance, you should shop online - but shop smartly.
The policy Terms & Conditions can vary considerably from one provider to another - even when the policy is underwritten by the same Insurer, so always read the policy Terms to see what features are included and more importantly what exclusions or limitations there are. Also, whilst most dealers offer the Return To Invoice GAP, there are actually three different types of GAP cover available so that customers can choose a policy that will suit their specific requirements.
All customers who purchase a policy are protected under the Financial Services Compensation Scheme (FSCS) in the same way as they would be with a policy purchased from a dealer.
If you need detailed information or assistance, please feel free to get in contact with us - we are always happy to help :-)
We hope you enjoy your new BMW!!
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