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Can I request a refund for gap insurance if I pay off my loan early?
I am going to be paying off my vehicle early. Can I get a refund for my gap insurance?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“To find out if you’re eligible for a refund on your
gap insurance
, you should reach out to your dealership or lender. Since most gap insurance is rated for the lifespan of the loan, you may be able to receive a refund for what you haven’t used. Every lender and company is different, so it will depend on how your payments were structured.
Even if you aren’t eligible for a refund, paying off your loan early is no small feat! You have already saved money in interest by paying it off early.
“
View full answer
- Gregory R.
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