If you feel your gap insurance was mis-sold and would like to
know how to get a refund then follow the simple steps
below:
1. Firstly, you must complain directly to
the company that sold it to you (i.e. the salesperson's employers),
this will usually be the car dealership. Even though the insurance
is likely to be provided by another company, it is the person who
sold it to you who is responsible.
2. Write to them clearly explaining why you
think you were mis-sold and that you would like a full refund of
premiums paid on the policy. If you can, give a concise account of
the transaction e.g. what the salesperson said to you, what actions
they took (or didn't take) when selling you the gap insurance.
3. Remember to include details of the policy in
your letter such as the policy number, the date it was sold and the
individual who sold it to you.
4. State that you expect a reasonable response
within 14 working days or you will take your complaint to the
financial regulator.
5. Ensure to send the letter recorded delivery
so you have proof the company received it.
6. If the dealership rejects your claim then
write to them again, making sure that your complaint is seen by
senior management. Repeat what you said in the first letter and
explain why you think their response was unreasonable.
7. If you are still not happy with the result,
or if your complaint was ignored, then contact the Financial
Ombudsman Service. This is a free and independent service set up to
resolve disputes between consumers and financial companies. More
details on how to claim through the FOS can be found on their
website.
You may also consider taking your dispute to the small claims
court. See our guide to the small claims
court for more info. It is highly recommended that you
consult your local Citizens' Advice Bureau or a solicitor before
taking any legal action.
Were you also sold PPI?
If you were mis-sold gap insurance with your car finance deal
then you may have also been mis-sold PPI (Payment Protection
Insurance). Please see our mis-sold PPI reclaim
service for more info, you could be owed £1000s.
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