Contour Enthusiasts Group Archives Forums General General Gap insurance

Can you only get gap insurance on your car when you first purchase it, or do regular insurance companies offer gap insurance on a used vehicle? My car's value is depreciating much faster than my loan is shrinking and it would be nice if I could get gap insurance on it.

When my girlfriend bought her 2002 Subaru the dealer actually brought up gap insurance. I had never heard of it until then. Apparently its always an option from dealers, they just don't tell you unless you ask. That's what I heard anyways.

I don't plan on selling my car, but I'll be screwed if it ever gets totalled or something. DC drivers are idiots, so this worries me pretty often.

*For a premium* (read:get screwed) most insurance companies should offer Gap Insurance on any car. They will charge according to risk and amount. It is just insuring the difference between what is owed and what is actual value.

Talk to your local automotive insurance agent about it.
Most agencies offer this type of coverage, even for used cars, but you will have to make sure, from them, first. It is as simple as calling their 1-800-number...

HTH Ray

I have Citizens and they only offer Gap insurance on new cars. I asked because I totalled my tour and I ended up short about 200 bucks, but the refund of my extended warranty helped me out.

If I wasn't making large excess payments on the car I would've been screwed.