GAP Insurance is Back (for good this time!)
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- Опубликовано: 2 июн 2024
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Gap Insurance is back folks, the FCA has now liften the suspension on Gap Insurance for several insurers giving them the green light to sell the product once again.
GAP insurance, or guaranteed asset protection, is a product designed to offer you some financial peace of mind against suffering a financial shortfall in the event of your car being written off by an insurance company. I have GAP insurance myself and feel that this optional product is well worth considering if you have a car of value.
#carfinance #carnews
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Glad the FCA have finally got off their high horse and actually allowed it back into the marketplace. Leasing a BEV without GAP Insurance is definitely not good. But now it's back Joe Public can get the correct level of protection against devaluation... 👍👍👍
Common sense at last from the FCA 👍
@DefinitelyNotAGuru I did actually write to FCA and in my almost polite letter I told them they were lacking in any common sense, by trying to protect people BY removing the product that protects people!
Me too, you probably got the same response as me - none
@DefinitelyNotAGuru 🤣🤣🤣 I was lucky then... They write back and said , following their investigations they hope to bring back GAP Insurance into the marketplace, later in 2024!
Hi Jim. This is great news. I contacted the FLA after your video earlier this year but whilst getting a stock reply which did nothing to suggest an early resolution to their ban from the end of March. Happily last week I contacted Motoreasy with whom I have my current GAP insurance and managed to obtain a new 3 year policy for my new Kia EV6 which arrives next week. Could not be happier as price was very reasonable when Ser against the financial risk involved to me if the lease car was written off or stolen. Thank you for all your efforts on our behalf.
Thanks 🙏
I purchased a month ago through ALA for 4years £273. For my MG3 Hybrid+
👍 I assume that wasn’t a lease then? Tsk tsk 😂👍
👍👍👍 for ALA. Thanks Jim
Cheers 👍
Excellent news, thanks for sharing.
Thank you Richard
Great news
It really is
Is Gap insurance only available for leased cars ?
No, as stated in the video, new, used, pcp, hp, cash. You can get it for all of them; it’s just generally a bit cheaper on a lease.
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😊
Thanks Glen 👍
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