GEICO does not offer gap insurance at this time. It’s unclear whether GEICO has any plans to add this coverage option in the future, either.
Gap insurance is also often referred to as “loan-lease coverage,” which offers similar protections. In 2019, only four out of the top 10 U.S. car insurance companies explicitly offer gap insurance as a coverage option: Progressive, Travelers, Liberty Mutual, and Nationwide. If your auto insurance carrier is not listed here, it’s a good idea to give them a call to ask whether gap insurance is available. Some auto insurance companies, like Allstate, may provide gap insurance even if they do not openly advertise it.
You can also check in with your car dealership’s financing department to see what kind of offers on gap insurance are available. However, it’s important to do some comparison shopping because gap insurance from a car dealership tends to be more expensive than purchasing a policy from a car insurance company.
Finally, if you lease a car, be sure to check your leasing agreement. Gap insurance is often already included in the contract.
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