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    • MSE Rosie
    • By MSE Rosie 18th Dec 15, 8:35 AM
    • 32Posts
    • 16Thanks
    MSE Rosie
    Gap insurance - guide discussion
    • #1
    • 18th Dec 15, 8:35 AM
    Gap insurance - guide discussion 18th Dec 15 at 8:35 AM

    Hi all,

    We've written a new Gap Insurance guide and would love your feedback.

    How did you find the info? Was it useful? Have you had a good or bad experience when buying gap insurance?

    Thanks for your help!

    MSE Rosie
Page 2
    • Sloanranger
    • By Sloanranger 3rd Jan 17, 12:48 PM
    • 22 Posts
    • 0 Thanks
    Gap insurance
    Hi, I bought a used car in 2014 from a dealership. They were going to finance the loan for it but because I was'n't the driver (I don't drive) they said they could'n't/ would'n't finance it so I obtained the finance through Black Horse bank. Recently while checking the policy I noticed insurance of £7 86 per month and when I contacted the bank they said it was gap insurance and that I should contact the dealer who said I signed for it. I was'n't aware that I had but my question is, if they were'n't financing the loan should I be paying this insurance
    Last edited by Sloanranger; 03-01-2017 at 12:58 PM. Reason: Text was in error
    • jennimac
    • By jennimac 6th Jan 17, 9:52 PM
    • 1 Posts
    • 0 Thanks
    You dont have to take Gap insurance for a PCP car loan or any other kind of car loan. You should have had it explained to you in full and been given a cooling off period (if) you agreed to it. Sounds like the dealer was like the one I purchased my last car from. He tried to pull wool over my eyes selling me GAP insurance at £349 for 3 years. I told him I wanted to check it out first. I did and found an exact same policy for £69 per year. Work that little sum out.. a rather large difference over 3 years! I think you have a valid claim to get your money back. Read the information (it is very thorough) on this page.. the link is top of page, a green banner, just click on it and your answers should be there. If you get stuck getting money back, contact your local Citizens Advice Bureau for assistance. Good Luck.
    • csgohan4
    • By csgohan4 7th Jan 17, 7:26 AM
    • 3,142 Posts
    • 1,976 Thanks
    Paid just over 200 pounds for 5 years for mine and not through the dealer
    • shylockinadress
    • By shylockinadress 12th Jan 17, 10:48 AM
    • 10 Posts
    • 5 Thanks
    I have found that the rules from September 2015 are being ignored. I recently asked for a trade in price against the purchase of a new car. What I received was something called a Deal Presentation. This included gap insurance. I did not ask for this, neither was it explained. As this would be a self financing purchase and as my current insurer gives me 12 months replacement cover this was totally inappropriate. I am however a pensioner, and appear reasonably affluent so presumably was seen as a soft touch. I subsequently bought from a different dealer who discussed gap insurance and sent me as confirmation of our conversation paperwork in accordance with current regulations.
    • GrumpyDavid
    • By GrumpyDavid 12th Mar 17, 4:18 PM
    • 1 Posts
    • 0 Thanks
    InsureandGo GAP insurance - does it exist?
    Having seen a link to InsureandGo GAP insurance in the guide my wife decided to purchase a policy, about 25% of the cost of one offered by the VW dealer. Unfortunately, because of the complexity of the car dealer's sales invoice, with fitted extras, paint, delivery charge, tax, etc. she made an error in the calculation of the accepted cost of the car so tried to telephone InsureandGo to change the vehicle cost on the policy.
    She first telephoned the GAP Administration team number on the policy document. They denied that they provided GAP insurance, saying that they only provide travel insurance. they then helpfully gave another number which when dialled was a company called "".
    An email with the certificate gave a 0844 number so she called that. The message said that this was a premium rate number and gave another one - when dialled my wife had the message "The number you have dialled is not recognised".
    So she dialled the number for complaints on the policy document. The advisor said that InsureandGo don't offer GAP insurance. My wife told him that she had paid and obtained a certificate from their website and had the documents in front of her. After some time he gave her yet another number and said his colleague would be waiting for her call. She called immediately but had to wait 4 minutes for an answer. This person did assure my wife that he had access to her policy and would amend it as requested. He said he would email the amended document. This was 5 days ago and no email has ben received.
    She has written to InsureandGo to demand that the policy be cancelled and the premium refunded because of their terrible service.
    • Ian011
    • By Ian011 14th Mar 17, 8:00 PM
    • 1,535 Posts
    • 848 Thanks
    FCA regulations do not permit the use of premium rate 08, 087 or 09 numbers for contact by existing customers. The regulations came into force on 26 October 2015. Make sure the call costs are refunded.
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