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Taking out guaranteed asset protection (Gap) insurance on a new vehicle will not result in lower payouts among traditional car insurance providers, according to Click4Gap.co.uk.
Gap insurance aims to cover the difference between a car's forecourt value and the amount that a motor insurance provider pays out in the event of a write-off.
Andy Bendell, marketing director for the group, explained that independent valuation standards mean that insurance companies do not set their own criteria for payouts on different types of vehicles.
"Because these independent standards are in place the customer is assured of correct valuations," he stated.
Mr Bendell added that Gap protection is currently little known in the UK, although more motorists are becoming aware of the product.
However, he advised that most people are offered the service by dealers, often at a premium.
As such, consumers should shop around before committing to a policy, he suggested.
Statistics published by the group suggest that 500,000 vehicles are written off every year in the UK.
InsureandGo searches the car insurance marketplace to find the most suitable level of cover.
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