Compare providersDon't just settle on the first policy or offer you find or are given. Often when you start looking around you will find better deals that are much more affordable and still offer the protection you require. Unless you can get the dealership to offer a deal where they provide a large discount or add to the sale for free you will often find that they are not competitive when it comes to GAP insurance pricing. Of course, if convenience is more important to you than the price, going with the policy offered when you buy the vehicle is your easiest option.Many price comparison sites will compare GAP insurance policies so you can get a quick overview of what is available however, remember that not all providers will be signed to these websites so it can be beneficial to do some research yourself. This is especially important if you have specific requirements or need more specialist cover.

Buy safelyIt is always advisable to check that the company you choose to buy from is a reputable provider, the main thing to look for here is if they are a UK-based company authorised by the Financial Conduct Authority (FCA). The FCA regulates these companies which means you should be in safe hands should you need to claim or if anything was to go wrong.Another way to check out a company is to look at reviews from current or previous customers. This will give you a good feel for how well claims are processed and how effective and helpful their customer service is. Often providers will put reviews on their website however these can be a small snapshot of only the best reviews they have received so research the company and see reviews on the likes of Google and Trustpilot to gain a less subjective view.

Spread the costGAP insurance can be considered an expensive luxury with some quotes sitting at the £300 mark and if often paid upfront. The more expensive the vehicle you wish to cover the more expensive your insurance will be. This is due to the amount the provider will need to pay out if you were to claim. There are also different lengths of cover to choose from which will also affect the cost, often ranging from 1 to 4 years. However, many providers will offer a pay monthly option to spread the cost.Remember to never feel pressured into buying GAP insurance from the dealership or your own research, the most important thing is that you find a policy that suits you. Plus with the 2-day ‘grace’ period you no longer need to make an instant decision.

Check suitability

Q: Check suitability

Check suitabilityBefore you buy any insurance it is important to make sure that the policy is going to cover you for exactly what you need. Review the terms and conditions of the policy and carefully read the exclusions so you know exactly what is and isn't covered.Some car dealerships will rely on customers not having a full understanding of what GAP insurance is and not reading the full terms and conditions. Often leaving drivers with an overpriced policy that may not fully suit their needs. Making sure you have checked the smaller details could not only save you money but also enable you to find a provider that is better suited to your circumstances.Each provider will be slightly different with what they offer and how they process claims, so understanding this before buying can provide you with peace of mind should you need to claim in the future. Also, look out for a pay-out limit, quite a few providers will have this so checking will ensure you have enough cover for the price of your vehicle should you need to claim.

Check suitability

Before you buy any insurance it is important to make sure that the policy is going to cover you for exactly what you need. Review the terms and conditions of the policy and carefully read the exclusions so you know exactly what is and isn't covered.

Some car dealerships will rely on customers not having a full understanding of what GAP insurance is and not reading the full terms and conditions. Often leaving drivers with an overpriced policy that may not fully suit their needs. Making sure you have checked the smaller details could not only save you money but also enable you to find a provider that is better suited to your circumstances.

Each provider will be slightly different with what they offer and how they process claims, so understanding this before buying can provide you with peace of mind should you need to claim in the future. Also, look out for a pay-out limit, quite a few providers will have this so checking will ensure you have enough cover for the price of your vehicle should you need to claim.

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Compare providers

Buy safely

Spread the cost