Gap Insurance | How Do I Buy

Buying gap insurance can save you thousands if your vehicle is totaled, as it covers the "gap" between what you owe on your loan and the car's actual cash value. To get the best deal, compare these options before you drive off the lot. Auto Insurance Provider (Best Value) Cost : Typically $20–$100 per year .

: The cost is often rolled into your monthly car payment.

: Use a tool like Kelley Blue Book to estimate your car's value versus your loan balance. If you owe 20% or more than the car is worth, gap insurance is highly recommended.

: Often offered at a lower flat rate than dealerships during the financing process. How to Buy It: A 4-Step Guide

: Because the fee is financed, you will pay interest on the insurance itself, making it significantly more expensive over the life of the loan. Banks and Credit Unions Cost : Usually $200–$700 .

: Most insurers require you to have comprehensive and collision coverage and be the original loan/leaseholder to qualify for gap insurance. When to Buy What is GAP Insurance? - Land Rover Freeport

: Call your agent or check your online account. This is usually the quickest and cheapest way to add coverage.

: You add it as an "endorsement" to your existing policy. It is often the cheapest route because you avoid interest and dealer markups.