i purchase a vehicle and thru the company i purchased the vehicle i also purchase a gap insurance policy.i paid the vehicle off 2yrs early and i call to see about any refund from the gap insurance co. to find that i never had it, but the co insist that i did and it was probably closed since the vehicle is paid in full, is this a breach of contract? Or what can be done concerning this situation?
2 Answers from Attorneys
I don't get what you want. Gap insurance is an add-on to an auto insurance policy which says (in my basic terms), if the car is totaled, and you owe more than the car is worth, the insurance will cover the "gap", so you owe zero. Good stuff to have. If you pay off the car, there is no more gap insurance policy, by definition, because you do not owe on the car. You will not get a refund just because the extension of the policy was never used. Check your contracts.
Gap insurance is a way a dealer makes more money on the card and for consumer lawyers it is in fact many times a total fraud. I strongly suggest that you check to see if what you paid for you in fact had. If you did not have it, then fraud occurred. If you are in may area, call me after you have determined what really happened. Want to know the law without going to law school? Protect yourself against ripoffs? Sign up for a free legal newsletter on various areas of consumer law by going to www.ConsumerLawyerHelp.com
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