Reclaim Car Gap insurance with Life cover?

Jagstang

Hello all,

This is my first post on here and was hoping a kind soul could give me some advice..

In short...

I bought a car on finance a few years ago...
Was advised to take out Gap insurance, which I did (not given the option to pay it up front)
..have subsequently found out the policy also includes life cover which I had no clue about.

Any grounds to reclaim?
Anyone had success in a similar situation ??

Many Thanks.

dunstonh

Any grounds to reclaim?

It was optional and you knew that. So, cant see why you would you have any reason. Do you have any evidence to support your complaint that you dindnt know it included life cover? i.e. documents issued to you make no mention of it?

magpiecottage

If you bought a car insurance on finance and had GAP insurance, that would seem wise. If the car was stolen or written off, you would only get the prevailing value from the insurer which may be less than the outstanding loan, for which you would remain liable.

As far as life cover is concerned, even if you won your case, the redress would only be the difference between what you paid and the cost of a policy without it.

There are fixed costs involved in running the policy (collecting direct debits etc) which will mean the difference is smaller.

Cars also get stolen more frequently than people get kidnapped and, using my own recent example, my car insurers wrote it off but the NHS patched me up, told me to walk on crutches for three months and sent me home - Yes Torchwood, I am Category 2!

Anyway, the point is that the life cover is a bit of a gimmick. Yes it will pay out if you happen to die but very few life claims will be met (and if I had your policy and had not survived my accident it would have paid out anyway).

Consequently, I think any monetary cost directly attributable to you will be very little or nothing at all.