What do dealerships charge for gap insurance?

I'm looking into getting a new car. I want to add gap insurance to my car loan. How much does gap insurance normally cost at a dealership?

Answer
“The cost of gap insurance at dealerships can vary, but you can expect to spend around $300 to $500 on gap insurance for your loan if you buy from the dealer. Keep in mind that this is an up-front fee that you can either pay out of pocket, or more expensively, roll into your loan. It all depends on your budget
Conversely, if you add it to your car insurance, it’s usually much cheaper, adding about $20 to $40 a year to your car insurance policy. Like with other insurance products, shopping around is the best way to get a good deal on gap insurance.
Are you thinking about adding gap insurance to your current car insurance policy? Use the Jerry app to shop and compare rates from some of the top insurers in the industry.”
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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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