Category: Invoice Gap Insurance
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Another one (unrated, offshore GAP insurer) bites the dust?
The reason we don’t pursue the cheapest possible GAP insurance prices from offshore, unrated underwriters (they eventually go bust) just got reinforced that little bit more. Following hot on the heels of Qudos Insurance A/S in Denmark going to the wall in late 2018 (which itself followed Alpha Insurance A/S (Denmark), Elite Insurance (Gibraltar) and…
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5 Tips For Buying The Best GAP insurance Policy
#1 – Choose an A-Rated insurer FOUR unrated underwriters of GAP insurance have gone bust since 2016. If you buy GAP insurance backed by an unrated insurer, there’s an increased chance of you being left without cover, when it’s too late to source cover from any other provider. More details here: https://gapinsurance.co.uk/blog/index.php/2019/02/27/gap-insurance-whats-important-1/ #2 – Choose…
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GAP insurance: What’s important? #5: NO Market Value Clauses
Avoid “Market Value” Clauses If your car is written off and your motor insurer pays you less than what the GAP insurer believes your car to be worth, a Market Value clause within the GAP insurance policy terms would allow the GAP insurer to avoid paying you the amount by which they believe your motor…
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GAP insurance: What’s important? #4: 30-Day Money-Back Guarantee
A Money-Back Guarantee Buy a GAP insurance policy from us and if you change your mind, you can cancel it within the first 30-days and receive a 100% refund. Find out more here: https://gapinsurance.co.uk/money-back-guarantee.asp
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GAP insurance: What’s important? #3: Cash Payouts
Cash Payouts If you make a claim on one of our GAP insurance policies, once any finance company with an interest in the vehicle (if applicable) has been paid the amount due to them, the remaining funds are paid directly to the policyholder. If you didn’t finance the vehicle (or the finance had already been…
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GAP insurance: What’s Important? #2: UK-Based Insurer
UK Based Insurer Our GAP insurance policies are underwritten by a syndicate at Lloyd’s of London – a UK entity rated A, AA- and A+ by three of the world’s leading insurance rating agencies. FOUR, offshore underwriters of GAP insurance (two in Gibraltar and two in Denmark) have gone bust since 2016 alone! Does the…
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GAP insurance: What’s important? #1: A-Rated Insurer
Buy GAP insurance from an unrated, offshore insurer at your peril. Find out why here.
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GAP insurance Eligibility Criteria Changes: Effective 22/01/2019
Please be aware that if you’re considering GAP insurance, the eligibility criteria for our policies is changing effective from midnight tomorrow night (Monday January 21st 2019). From Tuesday onwards (no exceptions), the following rules will apply: In addition, as of Friday last week, it’s now no longer possible to defer the start date of a…
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One week left to buy GAP insurance policies underwritten by UK General Insurance on behalf of Great Lakes Insurance SE
Midnight on January 21st 2019 will mark the beginning of the end of our time spent working with GAP insurance policies underwritten by UK General Insurance Ltd (UKG) on behalf of Great Lakes Insurance SE. In late 2018 UKG announced that January 21st 2019 would be the last day that they’d accept new policies on…
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Has your GAP insurance underwriter gone bust?
There’s a reason that we don’t pursue the cheapest possible prices at all costs – sure, policies from A-rated insurers may well attract a higher premium but, crucially, they’ll almost certainly be there when you need them most! October 2016 – Enterprise Insurance (Gibraltar)August 2017 – Elite Insurance (Gibraltar)May 2018 – Alpha Insurance A/S (Denmark)…