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Does 21st Century offer gap insurance?

I just bought my dream car brand-new from the dealership, but I’ve been told that new cars start depreciating instantly, and that I should consider gap insurance in case of theft or a serious accident. Do you know if 21st Century offers gap insurance?

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Katherine Duffy · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
21st Century does not offer gap insurance. But you’re right—brand new cars depreciate once they leave the dealership lot because they aren’t new anymore, and will continue to depreciate the more you drive. That’s where
gap insurance
can come in handy.
This kind of coverage pays the difference between the amount you owe to your lender and the actual cash value of your car in the event of total loss or theft. Since it’s unavailable with 21st Century if you want this kind of coverage, you’ll need to switch to a provider who does offer this coverage, or invest in standalone coverage to supplement your current policy.
Standalone coverage may seem like less work, but buyer beware—this kind of coverage can cost up to $400-$700 annually when you purchase it from a dealership or third party lender. On the other hand, purchasing gap insurance as part of your auto policy from an insurance provider only costs about $20 to $40.
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