GAP insurance direct in Florida

eljuliber

Can I purchase GAP Insurance direct Florida from a third party GAP insurance company, different than car dealership and auto insurance provider, I have GEICO and they don't offer GAP insurance, do you know any GAP direct insurance provider in Florida where i can purchase only the GAP.

abacomike

eljuliber said:

Can I purchase GAP Insurance direct Florida from a third party GAP insurance company, different than car dealership and auto insurance provider, I have GEICO and they don't offer GAP insurance, do you know any GAP direct insurance provider in Florida where i can purchase only the GAP.

What is the reason you are purchasing GAP insurance?  If you lease, most lease contracts include GAP.  If you purchased the car new from a dealer, the only reason to carry GAP is if you have a high balance loan.  GAP merely pays the difference between what you owe on an auto loan and what the insurance company paid off when the car was seriously damaged, stolen or "totaled".

Purchasing GAP does not pay off in the long run because the lower balance on the loan does not lower your GAP payments.

I suggest you speak with the dealer or if purchased from a private party, go to several dealerships and price GAP on your car.  When you provide answers to the above question, I might be able to help you more. 

Michaell

I'm not 100% certain, but I believe the OP is leasing a vehicle from Toyota; they are the one manufacturer that does not automatically bundle GAP into their lease contracts.

abacomike

Michaell said:

I'm not 100% certain, but I believe the OP is leasing a vehicle from Toyota; they are the one manufacturer that does not automatically bundle GAP into their lease contracts.

Then I would recommend changing his insurance carrier to one that offers GAP.  I personally do not understand why Toyota Motor Credit does not offer or include GAP.  I know Lexus Financial Services has GAP, owned by Toyota.

There has to be a source of GAP indurance for a leased vehicle from the dealer he purchased the car from.  Most insurance companies do not offer GAP.  It's the finance company that usually offers it.

kyfdx

abacomike said:

Michaell said:

I'm not 100% certain, but I believe the OP is leasing a vehicle from Toyota; they are the one manufacturer that does not automatically bundle GAP into their lease contracts.

Then I would recommend changing his insurance carrier to one that offers GAP.  I personally do not understand why Toyota Motor Credit does not offer or include GAP.  I know Lexus Financial Services has GAP, owned by Toyota.

There has to be a source of GAP indurance for a leased vehicle from the dealer he purchased the car from.  Most insurance companies do not offer GAP.  It's the finance company that usually offers it.

You can purchase GAP from the leasing company (through the dealer), but it's expensive. I believe that Florida is one state that doesn't allow insurance contracts to be bought from out-of-state (including GAP and extended warranties)