If any of the below apply to you then you may have been mis-sold
your gap insurance and be able to apply for a refund of all
premiums:
The salesperson did not advise you with regards to the gap
insurance. In other words, he did not tell you what it was, how
much it cost or how you would be paying for it.
The salesperson did not check if you were suitable for the
policy. You may not be suitable for gap insurance if...
- You have adequate funds to cover the difference between any
insurance settlement and the value of the vehicle and so would not
require gap insurance.
- Your car insurance already covers you for the full amount you
paid for the vehicle.
- The finance agreement covers any gap in value
- Your vehicle is already heavily discounted (e.g. you bought it
on the scrappage scheme) so there would not be a gap in value.
The salesperson said that you would not be approved for finance
unless you took out the gap insurance. Like any other insurance you
should have the option to shop around for the best deal first.
You were not given the option to refuse the gap insurance, i.e.
you were made to believe it simply came part and parcel with the
deal, or it was added without your knowledge.
If you think you were mis-sold your gap insurance and be
eligible for a refund then the next step is to make a claim. Please
go to the next section of the guide to find out how.
How to reclaim gap
insurance
Claims Financial
Testimonial
"I just had to put pen to paper and write to say I'm more than delighted with my settlement that you won me back from my PPI I had with Lloyds TSB. The Claim Forms were simple to fill in. It was a breeze"
Mr R Evans 11 Nov 2010