Can I get a refund for my unused gap insurance after my car was totaled?

My car was totaled and the insurance paid off my loan. My lender said that they were going to reach out to get me a refund for the extended warranty and gap insurance. It looks like I will be getting a refund for the warranty, but I'm still not sure about the gap insurance. Should I contact the company?

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Emily Maracle · Answered on May 03, 2021
Reviewed by Shannon Martin, Licensed Insurance Agent.
“If it will offer you peace of mind, you can certainly reach out to the gap insurance company to get an update. A refund will also depend on the company that you have your insurance with. Every company has different terms and conditions.
If you obtained your gap insurance through your dealership, the outcome will depend on how you paid for your gap insurance. If you paid monthly, you typically won’t be eligible for a refund. If you paid a flat fee, you most likely will receive a refund based on the amount of time left on your loan.
If your gap insurance was obtained through your insurance company, you won’t receive a refund for canceling it. However, your monthly payments or premium will be reduced in the future. “
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