What is the average cost of a tyre insurance policy?
If you are shopping around for tyre insurance or perhaps just browsing the market you will be amazed at the differences and variations in price. Just like gap insurance any tyre insurance policy you buy will be more expensive if you by it directly from your vehicle supplier.
Again just like gap insurance just because you are buying it from your vehicle supplier or dealership and paying a higher premium it will not mean that their tyre insurance is better.
It will not mean that their tyre insurance will perform better when you need to make a claim or even that you will be able to make more claims.
At Aequitas as you may already know we will always be honest and upfront. We would relish the opportunity to state that this price difference is all because your local dealership simply wants to take advantage of a captive market. But that would simple not be true. The differences in price are in fact completely beyond your local dealerships control.
Did you know that each and every time you buy tyre insurance or gap insurance for that matter from your local dealership that you are in fact paying twenty percent insurance premium tax. This is a legal requirement and your local tyre insurance supplier will have no option.
By comparison if you buy tyre insurance independently you are only charged six percent. This equates to a massive fourteen percent difference, which based on a policy of for illustration purposes three hundred pounds equates to a price difference of almost fifty pounds.
The second major difference and influence in price is best illustrated if instead of using tyre protection as an example we look ate the world of cars. No-one likes to waste money and we are sure that you have just purchased a fantastic vehicle and are happy with your purchase. Lets now look at what would happen if instead of buying just one vehicle you where in fact buying five hundred thousand all at the same time.
Naturally with such a buying power you would expect to be able to use this to your advantage and bring the price per vehicle down. You would also make sure that each vehicle would like a full tank of fuel, they would all have lots of nice added extra's "thrown in".
This is exactly what we do. We use our buying power to get lower prices and our negotiating skills to add little extras.
Same if not better policy just a lot lower in price.
We hope that you have noticed also that not once has the way in which your tyre insurance claim is handled or what your policy will or will not cover has not been mentioned once.
This has been done deliberately as we hope that by now you will appreciate that the price you pay for your tyre insurance has absolutely no nearing on the level of cover, quality of customer service or longevity, instead it is just more an indication of where you bought it from.