# Gap insurance company in liquidation



## Risdale (Nov 6, 2015)

As the title says he company I purchased gap insurance from is being liquidated which leaves me with a bit of a sticky wicket... You can only take out gap when you buy the car what am I meant to do now? From what the letter says I won't even be receiving any dividend of my money back despite the fact I was only a year into my policy...

Anyone got any advice on how to proceed?


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## Kerr (Mar 27, 2012)

If you paid with your credit card you could claim off of them. As a creditor you'll be lucky to get anything back from the company. 

Is it the broker or the insurance company that has gone bust? What company?


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## tosh (Dec 30, 2005)

You may still be covered for gap if the insurance company was part of the FSCS guarantee scheme.


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## JoeyJoeJo (Jan 3, 2014)

The FSCS covers insurers too, check i there's any coverage there


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## Mr Kirk (Sep 26, 2016)

Which company?


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## Maxtor (Feb 23, 2007)

Mr Kirk said:


> Which company?


That is just what I was typing. :thumb:

Enterprise insurance went bust a month or so ago and it left me to find a new policy. :wall:


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## BillyT (Jun 22, 2008)

Everytime i take out car insurance they ask me if i want to take out Gap.
I would say you will have no problem there.
Sorry to hear about what happened.


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## Shiny (Apr 23, 2007)

The FSCS are issuing refunds on Enterprise's motor (which is mainly taxi) insurance. Not sure of the situation on GAP insurance though.

http://www.fscs.org.uk/what-we-cove...s/qas-about-enterprise-insurance-company-plc/

Not been a good year for off-shore regulated insurers. The liquidators have just announced all cover under Gable insurance will also cease 16/12/16.


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## willywonker (Oct 27, 2016)

Your gap cover should still be valid as claims would be paid by FSCS (only to 90% of the full value though). So if your car was written off tomorrow you will still get some benefit of the gap.

As mentioned the motor insurance they wrote was recently completely cancelled and everyone had take out new policies. It's possible the same will happen with the gap cover too, if that happens you should get a refund from FSCS -as long as you don't cancel the policy first. And you should be able find cover elsewhere, not least least as there'll be a load of people in the same boat.


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## [email protected] (Sep 28, 2009)

Hi,

Just to let you know that we offer a product called Total Loss Protection. Whilst it's not exactly the same as your traditional GAP insurance we feel for some customers it can make a cost effective alternative.

https://www.adrianflux.co.uk/extras/total-loss/

Kind Regards
Dan


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## Risdale (Nov 6, 2015)

Can't quite remember off the top of my head but it was some bloke in Gibraltar that wrote to me.. I'll check tokorrow after my nightshift. At least it doesnt sound like a total loss!


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