Do any other companies offer inexpensive gap insurance for a 2014 BMW 328i?
The dealership where I bought my car wants to charge me $900 for gap insurance. I don't want to pay that much and my insurance company only offers it for new cars. Are there any other options?
“You’ll want to reach out to other car insurance companies. Every company is different. While your current insurance carrier may only offer gap insurance on new vehicles, there may be another company willing to provide coverage.
Gap insurance can be an important coverage to have on a financed vehicle. By shopping around and requesting car insurance quotes online, you’ll be able to see what carriers will offer you the best rate and coverage.
If you aren’t able to find gap insurance through another carrier and still want coverage, you may have to go through your dealership. While it may cost a lot upfront, gap insurance can typically be canceled once it’s not needed anymore.
You can find out from the dealership whether you’d be able to cancel your gap insurance and possibly be refunded any unearned premiums.
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
Does car insurance cover engine failures?
I haven't gotten into an accident or anything, but my car's engine is starting to break down. I do have car insurance. Will that cover the engine?
Feb 25, 2021
What happens when you have negative equity in your car and you want to trade it in for a different vehicle?
I've been underwhelmed with my experience with a Volvo and I want to try out a different make and model, but my vehicle has neagtive equity. How would a trade-in work?
Apr 07, 2021