Hi all,

A friend has recently told me that 2.5 years ago they had an accident, in which their own vehicle was declared a total loss.

Upon purchasing the vehicle, she was only 17, so the finance for the vehicle was placed in her sister's name. The GAP policy however was placed in the name of my friend, she was also the registered keeper.

The GAP Insurer refused to pay out on the grounds that the finance they were covering was not in the name of the policy holder.

Upon purchasing the GAP policy, the local dealer advised that this would not be a problem.

I believe that the policy was blatantly mis-sold, however is it now too late to raise this as an issue? Who could I direct a complaint to for them? The Gap Insurer or The Dealer?

Many Thanks

Hi all,

 

A friend has recently told me that 2.5 years ago they had an accident, in which their own vehicle was declared a total loss.

 

Upon purchasing the vehicle, she was only 17, so the finance for the vehicle was placed in her sister's name. The GAP policy however was placed in the name of my friend, she was also the registered keeper.

 

The GAP Insurer refused to pay out on the grounds that the finance they were covering was not in the name of the policy holder.

 

Upon purchasing the GAP policy, the local dealer advised that this would not be a problem.

 

I believe that the policy was blatantly mis-sold, however is it now too late to raise this as an issue? Who could I direct a complaint to for them? The Gap Insurer or The Dealer?

 

Many Thanks

 

Sounds like you are having a tough time, I work in insurance so I know I can help:-)

 

In this case the policy should have been put in both names. I don't think that it is the gap insurance companies fault as they are right they are not paying out the policy holder. Depending upon what address you two friends live at the may be other consumer regulations the dealership has not followed. But for now I would leave that aside.

 

But you can complain.

 

I would start with the dealership as in theory you are right you friend was sold an insurance product which she could never benefit from. Thus a miss sell. Don't worry about it being too late because you still have time and the FSA can look at cases much further back than this.

 

So start with your dealership then the insurance company who will not want their products being miss-sold and then the financial services themselves.

 

I have not written enough posts to be able to put a link on but type financial services ombudsman into Google.

 

Good luck

 

Let me know how you get on.