The UK Car Insurance Market - How Does It Work? Part 2
Online insurance brokers typically work with many insurers to offer customers access to the best value insurance products. Some pass on discounts that they have negotiated with the insurer on behalf of the consumer, and others share their commissions with their customers to make their insurance quotes more competitive and therefore more attractive.
Then there are car insurance comparison websites. Today these businesses are major players and the number of UK motorists buying directly through insurance comparison websites has rocketed. This is really a great way to save money on your next motor insurance quote, and is also a fantastic way to save hours of your precious time.
Insurance specialists also help by working with motorists to make sure they have the legally required insurance protection, including liability, and the necessary protection for the individual’s circumstances.
There are several types of car insurance, including comprehensive, collision, liability, medical, and uninsured and underinsured protection that covers the costs where the other driver is not adequately insured. A FCA regulated insurance specialist balances the desires of the consumer for low cost premiums, with recommendations of important coverage.
There are some things that motorists can do to help obtain ideal premiums for certain protection plans. Essentially, a motorist’s premiums are based on a risk assessment from the insurer that takes into account characteristics of both the driver, the area of the UK in which the applicant lives, and the vehicle that is to be covered. Drivers that have an established record of safe driving and that are looking to cover vehicles with optimal safety features, such as industry accepted car alarms etc., typically receive the lowest premiums.
Savvy consumers should also know that many insurers offer various other discounts. For instance, combining the policies of two drivers or combining multiple insurance products with the same insurer like motor and home cover, can result in discounts. Other insurers offer special discount incentives for online purchases. Motorists should take the time to look around and explore car insurance plans and prices before making a buying decision. Click4Gap are recommended as a top pick for gap insurance in Money saving experts online deals.
Pitting car insurance companies against each other forces them to present potential buyers with better offers. There are some great online insurance specialists who present learning tools and resources, offer quick search product comparisons, and excellent service for insurance customers.
Related Reading: The UK Car Insurance Market – How Does It Work? Part 1
As an extra to your car insurance, optional car GAP insurance can prove invaluable. Click4Gap insurance covers the shortfall between what is paid for a vehicle and the insurance pay out if your car is involved in an accident or damaged by fire or floods and written off. If you have a limited budget this financial loss can be significant and especially difficult for drivers to have to find.
Click4Gap offers two different types of Gap Insurance cover. These depend largely on how you intend to fund the purchase of your vehicle. So what car Gap Insurance is right for you?
Choosing The Right Gap Insurance For Your Car
Whichever method you choose to pay, there is a GAP insurance policy that is right for your vehicle, personal circumstances and financial position. GAP insurance is available for new and used cars.
If you paid cash for your vehicle, or paid a sizeable deposit, or if you financed it, Combined RTI Gap cover will pay out the shortfall between the cost of your vehicle and the market value at the point of claim, which is the amount your motor insurer will cover. This is cover that will protect you no matter if you use your vehicle for private use or for business.
If you leased your vehicle or it is under a contract hire agreement, Lease/Contract Hire Gap Insurance will cover you for the shortfall on your lease agreement, after your motor insurer settlement. If, for any reason, you change your vehicle within the first 90 days from the start date, we will also arrange to transfer your cover to your new vehicle without hassle or charge.
Can you pay Gap Insurance monthly?
If you’re looking for the convenience and affordability of a monthly payment option, Click4Gap offers you a non-financed agreement that enables you to pay a 20% deposit on purchase, followed by nine monthly instalments to cover the balance.
You won’t be signed up to a credit agreement, we’ll require no credit references or searches, and it isn’t subject to any changes in interest rates. For more on paying monthly for Gap Insurance click here.
Contact Click4Gap Today!
Looking to take out GAP insurance? We are here to help. Hop on our Live Chat, call us any time Monday to Friday, 9am to 5pm on 0208 819 3424, or Email us and we’ll get back to you during office hours.
Related Reading: Understanding GAP Insurance For Cars?