“If you currently owe less on your loan than your vehicle is worth, you can cancel your gap insurance.
Getting a refund for your gap insurance will depend on the terms and conditions set by your provider. If your gap insurance was obtained through your lender or finance company, you may be eligible for a refund as the coverage is often rated for the life of your loan.
If you have gap insurance through an insurance company, you typically won’t be eligible for a refund. Removing the gap insurance will reduce your future payments or premium, but they won’t refund you for past coverage used.
The best thing you can do is reach out directly to the company that handles your gap insurance. Once you start the cancellation process, they’ll be able to inform you about any possible refunds. “