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Do any other companies offer inexpensive gap insurance for a 2014 BMW 328i?
The dealership where I bought my car wants to charge me $900 for gap insurance. I don't want to pay that much and my insurance company only offers it for new cars. Are there any other options?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“You’ll want to reach out to other
car insurance
companies. Every company is different. While your current insurance carrier may only offer gap insurance on new vehicles, there may be another company willing to provide coverage. Gap insurance
can be an important coverage to have on a financed vehicle. By shopping around and requesting car insurance quotes online
, you’ll be able to see what carriers will offer you the best rate and coverage. If you aren’t able to find gap insurance through another carrier and still want coverage, you may have to go through your dealership. While it may cost a lot upfront, gap insurance can typically be canceled once it’s not needed anymore.
You can find out from the dealership whether you’d be able to cancel your gap insurance and possibly be refunded any unearned premiums.
“
View full answer
- Gregory R.
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