Gap Insurance

dacouch

neilmcl wrote: »

I suspect the "provider" is gapinsurance.co.uk and I had to correct another poster regarding this sort of rubbish about them being a fly by night concern with little money in the bank etc, when in fact the broker concerned is actually a well respected independent that's been in business for nearly 70 years and sells policies underwritten by well known and respected insurance companies fully compliant and protected by the FSCS.

Also worth bearing in mind that a broker or agent is legally obliged to keep your premium in a ring fenced bank account. They are not allowed to access their commission until after they have paid the premium over to the Insurer.

It is possible for the premium to not be paid into a ring fenced account but such brokers have to under go a huge amount of checking by the FCA and in effect have a large amount of liquid cash to hand.

It would be interesting to know the car dealers name as a look at their own accounts would be very interesting....

JB_One

Thank to all for your feedback.

The car manufacturer is BMW, dealer is Sytner a very large national dealership.
The Gap insurance was via ALA

So, the 6 million dollar question is. Does the above open the flood gates for more commentary good or bad??

neilmcl

Nothing more to be said, the dealer was talking nonsense. Enjoy your new car. Which product did you get RTI or replacement GAP?