Business ProfileforFrost Financial Services, Inc.

GAP Insurance is purchased to cover any additional money owed on a loan if not covered by primary insurance. When the primary insurance covers the full balance of the loan, typical and most GAP insurance companies will pro-rate and refund for the time not used and not using the services. I know this because I work in the industry. I help process insurance claims and GAP insurance claims literally every single day through my career. However this GAP insurance company, Frost, makes it's money by ripping people off. You pay hundreds of dollars for a policy, and then when the vehicle is involved in an accident and your primary insurance pays the vehicle off in full, instead of allowing you to cancel the remaining contract and receive a prorated refund they basically say "thanks for the free money!" and run. If you purchased a 48-month contract with them, and you use it for only 12 months (or in this case, 11 months) - you should be entitled to your pro-rated amount back. They did not have to pay out anything for GAP claim and the terms of the duration of contract were not met, such as either USING the coverage, or the time of 48 months elapsing. As I said in my line of work, I have worked with numerous GAP insurance providers, I am talking probably 50-60, and never once did any of them give any remote kind of issue for a prorated refund as the result of either: total loss no gap needed, impounded/disposed of vehicle, refinance of loan, or sale/trade of vehicle. How this company believes that this is right is beyond me, and I will absolutely share my experience with every single dealership that I work with. In the course of my job, we literally work with thousands of vehicle dealerships since we are a finance company. I will absolutely make sure all the dealerships we work with will know to stop using Frost Financial as a GAP insurance company because they rip people off.