GAP Insurance is being pull from the market by FCA
Discussion
Article said:
It’s designed to cover the shortfall – or ‘gap’ – created when a customer may owe more on a finance agreement than the insurer is willing to pay out for their car.
It is not called GAP insurance because it covers the "gap" between the insurer's payout and what you owe. GAP stands for Guaranteed Asset Protection.Ffs!
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