You can buy stand-alone gap insurance from a major provider such as Gap Direct, which usually offers coverage starting at $185. Otherwise, drivers can purchase gap insurance via their standard insurance company, since most insurers offer gap coverage or an equivalent option like loan/lease coverage. However, if you have car insurance through one insurance company, such as Progressive, you cannot buy gap insurance through a different standard car insurance company, like Geico, since it’s an optional policy add-on.
If your insurance company does not offer gap insurance and you cannot get it from a stand-alone provider, dealerships and lenders usually sell it. However, your premium will be charged interest if it’s rolled into the loan balance. Standard insurance companies are generally the cheapest option for gap insurance, followed by stand-alone providers and then lenders.
Please note that Gap Direct is currently not accepting new applications and says to check its website for updates in January 2021.
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