Please contact us at 866-493-0184 between the hours of 8AM-6PM Central Time for specific questions on your GAP addendum/policy.

Does gap insurance send you a check?

On the other hand, if you opted to purchase GAP insurance (or if it was included in your insurance policy), you would receive a check for the amount of money you still owe your bank or lender.

How do I get my gap insurance money back?

To get a gap insurance refund, contact the insurance provider and give them the policy number and documents showing that the car was traded in, sold, or paid off early. Gap insurance refunds are usually only possible for policies that were paid in full up front.

How much is gap insurance usually?

While extended warranties can run several thousand dollars, gap insurance is usually sells for $350 to $800. Prices vary depending on the length and amount of the car loan.

How can I find out if I have GAP insurance?

There are two places to check whether you already have gap insurance: your existing car insurance policy and the terms of your lease or loan. Gap coverage is sometimes sold as an add-on from the dealer when financing a car, so check to see if you’re already paying for it before you add coverage.

How to know if GAP insurance is included in the lease of a?

You should check with your dealership to determine how you can obtain gap insurance after leasing a vehicle. It’s best to have gap insurance coverage before you finalize your lease and drive off the lot. Go over the entire lease with your car dealer when you lease a vehicle, and ask about gap insurance.

What does it mean to have GAP insurance on your car?

Gap insurance is an optional car insurance coverage that helps pay off your auto loan if your car is totaled or stolen and you owe more than the car’s depreciated value. Gap insurance may also be called “loan/lease gap coverage.”.

Do you get a refund if you cancel GAP insurance?

If you pay your GAP coverage in monthly installments, you are not entitled to a refund of any used premiums. You may receive a small refund if you cancel early in the month. Contact your GAP insurance provider to obtain the necessary forms to cancel your GAP insurance.