UK Gap Insurance vs The EU based Suppliers

How much is your used car worth and why does it matter?

We are very lucky at Aequitas Automotive as being totally independent we have the luxury of having access to gap insurance policies underwritten by two different insurance companies.

As you may already know Gap Insurance policies provided by our Easy Gap brand are underwritten by Am Trust Europe Limited. They are based in the UK and are financial ratted “A” . Policies provided by Gap insurance 123 are underwritten by Enterprise Insurance Company Plc, they are base in Gibraltar.

Being in this position we able to draw real comparisons after all if you really want a UK gap insurance supplier we can provide that equally we can provide polices underwritten by suppliers based outside the UK.

We really to do mind and it is always your choice and makes no difference to us. What we would however like to point out is that instead of basing any decision about which policy you should buy on the geographical location of the insurer you should instead compare the terms and conditions.

The inter net is a fantastic place to carry out research but not all research will be unbiased. Lets be honest we want you to buy a policy from us at  Aequitas and don’t really mind which of our on-line brands you choose. We simply want to make sure that you make any decisions based on pure factual information and not miss information.

As you will know that financial services industry is very heavily regulated and as such any company offering insurance to the public must be registered with the FSA.  This is required no matter we you are based.  So a UK supplier must be authorised to trade within the UK just the same as a supplier based outside the UK.

The only difference is that a gap insurance supplier based outside the UK is authorised to trade in the UK under a special arrangement why not take a look for your self and visit the FSA register ( after all they will explain it a lot better than us).

So lets set the record straight once and for all.

Can the gap insurance supplier simply walk away from their financial obligations?

No Gap insurance suppliers are regulated and the can not simply walk away at any time from their obligations.

Do you have to call abroad when making claims or amendments.

No if you make a claim from an insurer based outside the UK for example via a policy you have purchased via Gap insurance 123 you will not have to call a foreign call centre. Instead all claims are handled in by a dedicated team of expert administrators  based in Sheffield who’s service levels to both us and our many thousands of happy customers can only be described as exemplary and truly market leading.

In fact we our very honored to have access to policies written underwritten by the two insurers.  With both Am Trust Europe and Enterprise Insurance PLC their  pedigree, reputation,  longevity, customer services record, experience, and quality of cover offered within the gap insurance world is ultimately far more important than where they are  based.

So when it comes to choosing a gap insurance supplier make sure you make a decision based on what is really important such as terms , conditions, features of the policy and exclusions and don’t be side tracked into something as un important as geographical location.

 

 

 

 

 

 

 

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