GAP Insurance
Have you been mis-sold GAP insurance?
'Gap' (Guaranteed Asset Protection) insurance is an insurance
product often sold alongside car finance deals designed to protect
the policyholder from financial loss by covering the difference
between the value of the car at the time of purchase and the
insurance settlement in the event of the vehicle being written
off.
For many car owners, gap insurance is a valuable policy to have
as it protects them from losing out financially from stingy
insurance payouts, but for some people it is useless and causes
needless expense, and has on many occasions been mis-sold by greedy
and/or poorly trained salespeople.
The most common example of gap insurance mis-selling is where
the dealership simply adds it to the finance agreement without
first checking with the customer whether they actually need or want
the policy. Just like any other insurance, it shouldn't be sold
unless it's proved to be suitable.
Mis-sold gap insurance policies can potentially cost motorists
thousands of pounds in wasted premiums as they are often added to
the finance deal at the start and gain interest. This means that
your £5000 car could end up costing you £1000s more all because of
unnecessary gap insurance.
Many people who were mis-sold policies have already complained
to dealers and have received a refund of their premiums paid, and
our guide will show you how you can too. You may be owed
£1000s.
So if you think you may have been mis-sold gap insurance and
would like to know how to get a refund, or would simply like to
know how not to get ripped off by unscrupulous car
dealerships, then please read on.
How
to know if you were mis-sold gap insurance
How to get a gap
insurance refund
Claims Financial