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