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What can I do if a dealership forced me to get gap insurance?
When finalizing my car purchase, the salesperson really pushed gap coverage. I didn't want it, but was told that my monthly payments would remain the same even if I added it on. I called the bank this morning, and they said the gap coverage was optional and will cost an extra $650. Is there any way to cancel it now?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“You should reach directly out to the dealership to see if you are able to cancel the
gap insurance
. As it is optional, you should have the ability to remove it from your loan. If you have already paid the $650, you should be issued a refund.If the cost of gap insurance is a concern for you, you should check with your current insurance carrier. Most carriers offer the same coverage as dealerships at a more affordable rate.
You can also comparison shop with other carriers. Try requesting
car insurance quotes online
to see what your options are. You may be able to find a carrier that offers gap insurance as well as a better rate for your policy.“
View full answer
- Gregory R.
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