Insurance company gone into liquidation , what are my rights ?

Mr_Poves

Thanks everyone , and yes I am aware the policy has been paid in full , this is what was bothering me , as obviously the finance provider will still want paying back .
And as Ectophile mentioned above , I thought there may be some sort of protection for me as a consumer in a situation like this .
Obviously the fscs are there as a last resort , but as mentioned will only cover 90% of a claim , which is all well and good , but on an expensive vehicle I could be short changed for the premium price I have paid .
Also how long will a claim take to process if the worst should occur ?
As far as I'm concerned the finance company should inherit this problem , not me !

Nilrem

I would probably be back on the finance company.

You paid (through them) for a policy with 100% cover.
The 90% cover from the FSCS is not what you paid for.

For a consumer contract that would probably be enough to require the finance company to take up the slack or arrange cover in full with a different insurance company.

There may be difference with insurance to other services paid for using credit, but I'd be pushing that what you're getting is not what the credit agreement was for.

arcon5

I would have thought the finance company would be liable for the other 10%

Although depends on the value and your excess that 10% may not even equate to much money above what you would have otherwise paid