GAP Insurance Dilemma

Hey guys, so I’m about to take on a Mazda lease, when I inquired with my insurance company about gap coverage they informed me they do not offer it. I have read that dealers do offer it but for outrages pricing. I’m left with two options either change insurance providers or find a stand-alone gap provider, so far I have not found a stand-alone provider as Gap direct will not take on new customers and Autopay says it’s only for financing. Does anyone have some pointers for me? Thanks in advance

Google NY’s state law on gap

Why guess? Ask your Mazda salesman how much they charge for GAP. Also, negotiate!

Can you send me a link to what I’m supposed to be seeing? I see an article saying that NY requires the lease include gap insurance but that it can be removed, does that mean that the leasing bank becomes the gap insurer?

The first few Google results are legalese but this is in plain English.

I bet its $15 or less per month

That’s a lot of money considering your regular insurer would charge you $20 for the year or so

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Yeh but your insurance doesnt offer it so…

It’ll cost you more money in the time you spend switching your insurance. As others suggested, ask and negotiate.

Travelers not only offers all of the insurancez (home, renters, auto, etc.) but they also have GAP AND offices / tons of employees in New York. Why not shop local?

On your insurance it should be (far) less than $2/mo


Travelers say they do not offer in NY state

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