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Protecting your customers with GAP insurance
Guaranteed Asset Protection (GAP) insurance remains a popular financial aftercare product among car buyers because it provides peace of mind. Most customers will be aware their vehicle’s value decreases over time and that many insurance policies will only pay out the current market value of their vehicle if they need to make a claim. This is where GAP insurance helps as it protects car owners for the difference between what they paid for the vehicle and the market value.
Recently introduced stricter regulations by the Financial Conduct Authority (FCA) around the sale of GAP insurance have helped to ensure consumers are buying the right financial protection for their investment and increase confidence in the product.
In this eBook, we will take a look at the changes introduced by the FCA surrounding the sale of GAP insurance. We will explore its benefits, to both customers and dealers, and provide impartial information, advice and guidance.