What company has the best gap insurance?

I am getting a car loan and I want to add gap insurance. What company has the best coverage?

Answer
“The quality of gap insurance, is similar regardless of who you buy it from because it simply pays for the difference between your loan balance and the actual cash value of your car. However, you’re likely to see a drastic difference in price depending on who you purchase the policy from. Don’t mistake a higher price for better quality.
If you want gap insurance, start by asking your lender or your current car insurance company. These two companies usually offer coverage that’s a better price than if you went through the dealer or a third-party insurer.
Lenders or dealerships will either charge a flat fee up front for gap insurance, while insurance companies often have gap insurance as an add-on policy for a few dollars a month.
Since you’re shopping around for gap insurance, you should also look for full coverage policies to cover your new car insurance. Compare quotes with the Jerry app to compare rates from top insurers.”
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Emily Maracle
Answered on Aug 16, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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