You can find a ballpark estimate by looking at a vehicle's kelley blue book value, and then figure approximately how much you're willing to spend on the insurance.
the approximate cost of gap insurance is typically 1% of the kelley blue book value for your vehicle with an annual deductible that starts at $500. the cost tends to be higher or lower depending on several factors including wear and tear, accident frequency in the region/auto body shop density (a lot of accidents happen in certain areas), credit level (people who don't have much debt are required to pay less). for instance, if your car depreciates quickly because it was involved in an accident early after getting off lease – you may need more coverage than someone who didn
what is the average price of gap insurance?
the average price of gap insurance is $260.
if you don't have a vehicle loan, then gap insurance can provide the peace of mind that drivers need when purchasing a new car. however, keep in mind that an older car will be less likely to find its way into a conflicting accident and cost less money to repair. if you were looking for more information on how much it might cost to buy gap insurance for your vehicle, we recommend you take a look at this article from gapinsurance-europe as they provide some definite insight into the matter. in general, the average price of 12 month's worth of gap insurances ranges from €190 – €250 euros.
can you get gap insurance on a leased car?
yes. gap insurance is a type of car insurance protection meant to cover the difference between what your insurance company pays out, and how much you owe for your leased or financed vehicle. to get gap protection with aaa that includes both comprehensive and collision coverage all you need do is call us at 800-222-2582, select option 3 ‘car insurance' then press 1 ‘customizable car insurance.' there are also online applications available on our website www.aaa.com if you would like to prepare ahead of time by printing out the application form and filling it in before calling one of our agents 24/7.
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how does gap insurance work on a leased car?
gap insurance covers the difference between what you owe for your leased car and the worth of the car when it's returned to its owner. this policy can be purchased at any time, sometimes for less than $200 per year, and usually is incorporated within an automobile leasing package provided by a vehicle manufacturer or dealership.
many people believe that gap insurance offers them an auto safety net in these financial times where automakers are struggling with high debt burdens and a shaky economic situation. it also gives peace of mind should a leased car be totaled after an accident, which happens more often because money was saved on initial payment or rent-to-buy price.
however, should there not be enough coverage to cover the keep lease going – even
how much should gap insurance cost a month?
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