GAP insurers going bust

Sterlingtimes

For the second time this year, I have received notification of one of my GAP insurers going bust.

I received a letter from Warranty Direct yesterday informing that LAMP, the underwriter, has been placed in liquidation. My insurance will be cancelled on 29 August. The premium is FSCS protected and I will receive a 90% refund for the unused part of the premium.

My other gap insurance was sold by the Vauxhall showroom and that underwriter went bust as well.

Are gap insurance underwriters at the dodgy end of the insurance spectrum?

Graculus2112

The underwriters used by *some* GAP providers (based in Gibraltar, Malta and Denmark) are unrated, and five of these have gone bust since 2016. The important thing is to look for providers with A-rated underwriters - the likes of gapinsurance.co.uk and ALA both use Lloyd's of London syndicates.

HenryRad

I have had the same issue with Warranty Direct half way through my policy.
Does anyone know of any GAP insurers that will insure my car with 120k miles and purchased July 2017?