Your Gap Insurance Options


Can You Get Gap Insurance In Your State?

Check This List To Find Out If GAP Insurance Is Offered

Buy Alabama Gap Insurance - No


Buy Alaska Gap Insurance - Yes


Buy Arizona Gap Insurance - Yes


Buy Arkansas Gap Insurance - Yes


Buy California Gap Insurance - Yes


Buy Colorado Gap Insurance - Yes


Buy Connecticut Gap Insurance - No


Buy Delaware Gap Insurance - Yes


Buy District of Columbia - No


Buy Florida Gap Insurance - Yes


Buy Georgia Gap Insurance - Yes


Buy Hawaii Gap Insurance - Yes


Buy Idaho Gap Insurance - Yes


Buy Illinois Gap Insurance - Yes


Buy Indiana Gap Insurance - Yes


Buy Iowa Gap Insurance - Yes


Buy Kansas Gap Insurance - Yes

Buy Kentucky Gap Insurance - Yes


Buy Louisiana Gap Insurance - No


Buy Maine Gap Insurance - No


Buy Maryland Gap Insurance - Yes


Buy Massachusetts Gap Insurance - Yes


Buy Michigan Gap Insurance - Yes


Buy Minnesota Gap Insurance - Yes


Buy Mississippi Gap Insurance - Yes


Buy Missouri Gap Insurance - Yes


Buy Montana Gap Insurance - Yes


Buy Nebraska Gap Insurance - Yes


Buy Nevada Gap Insurance - Yes


Buy New Hampshire Gap Insurance - No


Buy New Jersey Gap Insurance - Yes


Buy New Mexico Gap Insurance - No


Buy New York Gap Insurance - No


Buy North Carolina Gap Insurance - Yes

Buy North Dakota Gap Insurance - Yes


Buy Ohio Gap Insurance - Yes


Buy Oklahoma Gap Insurance - Yes


Buy Oregon Gap Insurance - Yes


Buy Pennsylvania Gap Insurance - Yes


Buy Rhode Island Gap Insurance - Yes


Buy South Carolina Gap Insurance - Yes


Buy South Dakota Gap Insurance - Yes


Buy Tennessee Gap Insurance - Yes


Buy Texas Gap Insurance - Yes


Buy Utah Gap Insurance - Yes


Buy Vermont Gap Insurance - Yes


Buy Virginia Gap Insurance - No


Buy Washington Gap Insurance - No


Buy West Virginia Gap Insurance - Yes


Buy Wisconsin Gap Insurance - Yes


Buy Wyoming Gap Insurance - Yes



There are only three scenarios that apply to folks planning to buy Gap Coverage.

One, youíre planning on buying a new or used vehicle and are thinking about buying gap insurance.

Two, youíve purchased a new or used vehicle within the last 12 months and car considering buying gap insurance.

And three, everyone else (if this is you, there are a couple of options).

Scenario 1 - If you're getting ready to purchase a new or used vehicle, there are 4 ways to avoid having a large gap in your insurance coverage should anything ever happen to your vehicle.

1. Put at least 20% - 30% down on any purchase;
2. Buy GAP Insurance coverage from your Bank or Finance Company;
3. Purchase Gap Insurance from an Insurance Company;
4. Buy Gap Insurance from an Automobile Dealership you're buying at.

Let's take a look at each.

Putting 20% - 30% down is probably the smartest way to take care of it - you automatically wipe-out the typical 30% 1st yeardepreciation.  But with the average price of a new car at almost $26,000, coming-up with a $7,800 down-payment can be tough for a lot of people.

Purchasing a "Rider" or GAP from an Insurance Company or Bank is probably the next best option.

GAP has been around for years - particularly with Leased vehicles.  But with the huge depreciation on vehicles today, it's becoming more popular with regular bank financing as well.  Yet, it's not offered by many insurance companies or banks - and that's ridiculous since GAP would protect their customers from possible financial ruin.

If your Bank offers it, have them explain it in detail.  For instance, some gap coverages even pay your insurance deductible if your vehicle is totaled or stolen.  Also, ask if the coverage provides any money toward a replacement vehicle.

Be careful here....many Banks will only provide GAP if you agree to finance the vehicle with them as well.  Sometimes that might work for you - some times is wont.

Getting Gap Insurance from an Insurance Company is also a good choice, although finding a company that offers it can be a chore.  I've only been able to find three Insurance Companies that let you buy Gap Insurance.

One is Progressive Insurance - we've all heard of them, right?  They offer Gap as an add-on to their regular policies, so in order to get it, you have to get car insurance with them.  But...their car insurance coverage will usually save you money and their Gap coverage is very, very cheap.

The second company is All State Insurance -  and they have the same policy as Progressive - you have to get their car insurance.  Personally, I've found All State to be little expensive when it comes to car insurance.

One company that Iíve used twice in the past is Lee & Mason Financial Services, Inc..  They offer a stand-alone policy with no strings attached and it's a one time investment only.

Theyíve been around for years, are owned and backed by a large Insurance Company, and is the only non-car insurance company I ever recommend.

And finally, many Dealerships offer Gap coverage as part of the Sale process.  They'll push you very hard to purchase what they sell....and like many, we find that annoying.

Besides, it's expensive - I've seen Dealers sell a Gap Insurance policy for as much as $500 - $600.  And then they want you to add it to your loan which effectively makes it double the cost with the interest rate of the loan tacked on.

Scenario 2 - If youíve purchased a vehicle within the last 12 months, you have a two options.  One, Two, check with your lender or insurance company to see if gap is available.  If it is, jump on it.

And two, check out the offers that Lee & Mason Financial Services, Inc. has.

Scenario 3 - If neither of the scenarios Iíve just discussed apply to you....you could have problems.  Really, the only options you have are:

Call your current Insurance Company and see if they can help - And call the Bank that has your Loan or Lease and see if they can help.

Go ahead and pick-up the phone today and call your agent or insurance company.  Ask them what they pay if your vehicle is considered a total loss.

With your current policy, will they pay the entire amount owed to the bank if your vehicle is wrecked and considered a "total loss"?

If they do not, what policy changes can be made to cover it all.  If you get lucky and they'll make a change, ask what it covers - exactly - and what does it cost.

Ask the Bank that has your lease or loan if they offer Gap Insurance and can it be added to the Loan.  If they can, good for you.  Take good notes and find out what it covers and what it costs.

After you've gathered your information, and you have an option, Iíd recommend you purchase the coverage.



Tom O'Leary is an Automotive Portfolio Analyst, Author and has been called a modern-day "Robin Hood" for his efforts in helping the Automotive Consumer.





Gap Insurance In Your State? States Barring Gap Insurance Listed as NO


Buy Alabama Gap Insurance
Buy Alaska Gap Insurance
Buy Arizona Gap Insurance
Buy Arkansas Gap Insurance
Buy California Gap Insurance
Buy Colorado Gap Insurance
Connecticut Gap Insurance NO
Buy Delaware Gap Insurance
Buy District of Columbia Gap Insurance
Buy Florida Gap Insurance
Buy Georgia Gap Insurance
Buy Hawaii Gap Insurance
Buy Idaho Gap Insurance
Buy Illinois Gap Insurance
Buy Indiana Gap Insurance
Buy Iowa Gap Insurance
Buy Kansas Gap Insurance
Buy Kentucky Gap Insurance
Louisiana Gap Insurance NO
Buy Maine Gap Insurance
Buy Maryland Gap Insurance
Buy Massachusetts Gap Insurance
Buy Michigan Gap Insurance
Buy Minnesota Gap Insurance
Buy Mississippi Gap Insurance
Buy Missouri Gap Insurance
Buy Montana Gap Insurance
Buy Nebraska Gap Insurance
Buy Nevada Gap Insurance
New Hampshire NO
Buy New Jersey Gap Insurance
New Mexico NO
New York NO
Buy North Carolina Gap Insurance
Buy North Dakota Gap Insurance
Buy Ohio Gap Insurance
Buy Oklahoma Gap Insurance
Buy Oregon Gap Insurance
Buy Pennsylvania Gap Insurance
Buy Rhode Island Gap Insurance
Buy South Carolina Gap Insurance
Buy South Dakota Gap Insurance
Buy Tennessee Gap Insurance
Buy Texas Gap Insurance
Buy Utah Gap Insurance
Vermont NO
Virginia NO
Washington NO
Buy West Virginia Gap Insurance
Buy Wisconsin Gap Insurance
Buy Wyoming Gap Insurance















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