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My wife paid off her jeep last month, she got gap insurance when she bought it, is this money you can get back? I’ve been told both. They’re certainly not going to come knocking to give the money back, but how would I go about this?
Yes, you’ll have to go to the dealership you purchased the vehicle from and fill out a cancellation form.
If you already paid for gap insurance, you can cancel it and request a refund from your car insurance company for any unused portion of the coverage. For example, if you have six months of coverage left on a 12-month gap insurance policy and you cancel, you can be reimbursed for the unused six months minus any fees.
/from ChatGPT
Depends on the payment duration.
Pay by the year, or the 1/2. But it probably depends on their fine print.
So, I don't know, sorry I wasted your time.
If you paid it off early, you may be entitled to a small refund. Typically GAP is pretty inexpensive,around 499 for a 72 month term. If you paid any more than that, you got slammed. Each state has its own laws dictating allowable dealer markup on some ancillary products, but we keep our GAP retail costs at 499 or below. Anyway ,if you paid 499 and paid off a couple of years early it will be pro-rated minus any fees. It won’t be enough for dinner for the family in all likelihood
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