tag:

How Much Is Gap Insurance?

After purchasing a new or used vehicle for your Aurora commutes, you may be considering gap insurance to protect your purchase. This leads to the question, “how much is gap insurance?” Gap insurance price depends on whether you purchase it through your regular auto insurer or add it onto your auto loan. Learn more with Courtesy Acura, below!

 

 

Gap Insurance Cost

As we noted above, the average cost of gap insurance will vary depending on who you purchase your coverage with. Here’s an overview of your options:

  • Purchasing through your regular auto insurer: When you purchase gap insurance from your regular auto insurer who provides your comprehensive and collision coverage, the gap insurance price is typically just $20 per year.
  • Adding gap insurance coverage onto your auto loan: If you’re taking out a loan to purchase your car, many lenders offer the option to add gap insurance onto the agreement. If you go this route, you’ll usually pay a one-time flat rate rather than making regular payments. The average gap insurance cost, in this case, ranges from $500 to $700.
  • Purchasing standalone gap insurance: Some auto insurers don’t offer gap insurance as part of your overall policy but do offer it as a standalone, separate coverage option. When you choose this option, the average cost of gap insurance is a one-time fee of $200 to $300.
Finance

 

Is Gap Insurance Worth it?

Purchasing gap insurance through your regular insurer for $20 per year is pretty affordable, but with the other options ranging in cost from $200 to as much as $700, you may be wondering if gap insurance is really worth it. Here are a few reasons why Denver drivers might want to get the added coverage:

  • If your vehicle is stolen or incurs enough damage in an accident to deem it a “total loss,” gap insurance covers it.
  • If you owe more on your auto loan than your vehicle is currently worth and you get in an accident, gap insurance ensures you’re fully reimbursed, rather than losing out on thousands of dollars.

Learn More at Courtesy Acura Near Highlands Ranch!

If you have any lingering questions about the average cost of gap insurance, feel free to contact us or get in touch with our finance professionals. We’re always happy to assist! We also encourage you to consult our car-buying tips for expert advice on topics like buying vs. leasing, leasing a car with bad credit and more.

More from Courtesy Acura

  • What are the Color Options for the 2020 Acura TLX?

    There are so many color options for the 2020 Acura TLX that any driver can find a match for their sense of style. Want to stand out in Aurora with Performance Red Pearl or do you prefer the subtle shine of the Lunar Silver Metallic model? No matter your preferences, Courtesy Acura can help you find…

  • How Powerful is the 2020 Acura RDX?

    The true luxury of any SUV like the new 2020 RDX on Aurora and Denver is its versatile performance, no matter if you’re in need of an improved fuel economy or want a model than deliver extra strength on and off the jobsite. So, how powerful is the 2020 Acura RDX? From it’s reputable Acura…

  • What are the 2020 Acura MDX Packages?

    The true luxury of an SUV like the 2020 Acura MDX is being able to select this impressive crossover in a range of configurations to keep you moving on Aurora roads and beyond. With the 2020 Acura MDX packages, you can upgrade your commute with five unique options which are the MDX Standard, Technology, A-Spec®,…

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact
Contact Us ×

(303) 795-7800

Call Now

7590 S Broadway • Centennial, CO 80122

Get Directions

Today's Hours:

Open Today! Sales: 10am-7pm

Open Today! Service: 8am-6pm

Open Today! Parts: 8am-6pm

Courtesy Acura 39.5796254, -104.9876366.