Why GAP Cover helps your customer

GAP insurance pays out if your customer is unfortunate enough to have their car declared as a total loss.
Typically, it takes them back, either to the original invoice price, or the amount outstanding on their purchaser agreement, whichever is the greater. In effect your customer is covered against the risk of depreciation from the point of their original purchase, financed by you.

How we can help you?

A good quality GAP product offers excellent value to your customer, while providing an additional income from an existing customer and should be part of your overall offering.

However, as a motor finance broker you will be authorised by the FCA for your finance business, but almost certainly not for the sale of Insurance products. Even those motor finance houses that are authorised for insurance sales, find the cost of ensuring compliance in this specialist area overwhelms the benefits.

About Our Gap Insurance Offering

MB&G is authorised by the FCA for the sale of insurance products, and has developed an expertise in working with finance houses so that we, on your behalf, call your customers, in your name, and offer them GAP insurance, which is underwritten by a very reputable insurer part of Lloyd’s of London.

We understand this seems like a big ask, entrusting your customers to a third party. However, as will be delighted to explain to you, we can show it works:

• Attractive levels of commission paid on each successful sale
• Firm that works to a very high regulatory standard
• Understand the impact of Data Protection legislation
• Almost 10,000 satisfied customers already
• Cancelations within cooling off period under 1%
• Very low level of customer complaints