That may have some truth now… but how long do you think that will last? Doubt any of us that kinda crystal ball 
plus used car prices are correcting now…
Bottomline - are you willing to take the risk of a total loss and be on the hook for thousands of dollars? It’s really your call…
Personally IMO insurance was always meant to be for catastrophic outcomes. Your car gets stolen and totaled, your house burns down, death and disability etc etc.
Insurance isn’t necessary for like a 0.3% chance you have a $2,000 gap on a well-bought Tacoma in its first year and probably close to $0 in its second.
But ask 10 people and you’ll get 11 opinions.
Well I am leaning towards getting it the dealer though wanted 50 Dollrs a month for it for the 3 year lease
As an insurance broker most of the policies I have seen from the insurance companies that offer gap will have some sort of limit or cap. Most of them are 25%-30% over current value of the loss vehicle.
Benefits of getting it on your insurance plan is cost (most policies will only charge about $25 a year to add this).
Disadvantage is the limits of pay out and the fact that your deductible will still apply. Most of the dealer plans will cover the full gap amount as well as the deductible. Most companies also will only add this coverage at the time the car is purchased. So if you change insurance companies before you sell the car the gap is gone.
However it does seem unlikely that you will have a gap of more than 25% unless you buried a ton of negative equity into the deal.
Also note that some of the top tier policies will include new car replacement (or give the option to add this) for the first 24 months/ 24,000 miles. So in the event of a total loss you would be paid out the cost of a new vehicle.
My Insurance had a $7 cost per 6 months on my 2020 Tacoma $36K MSRP-I cancelled it as ALLY had GAP insurance into the lease…for $50/mo just add more vehicle options 
If you lease with U.S. Bank (who has the highest residuals) GAP is included free.
Bear
Oh for real I think the dealer that gave me the best numbers did mention it was a us bank lease mm okay I’ll still ask to double check what about the scratch protection wear and tear package they sell is it good or do you guys recommend something else?
With US Bank, you probably would want to buy the lease wear and tear. I had customer who got charged $485 because of 1 scratch on the fender
"fujifilm
(Gap insurance for Toyota tacoma)
If you lease with U.S. Bank (who has the highest residuals) GAP is included free.
Bear"
Can you elaborate on this? I’m going to be leasing from Toyota soon and will be faced with this. Is there a link or something anywhere that says US Bank provides GAP as the Lessor for all their leases?
Wow $485 for a Scratch? that sounds really out there as Kia VW and others charge about $200 for a long scratch.
And $485 for a scratch versus $699 for W&T? I think your customer made out.
There’s so many things wrong here…
Pls enlighten me I’m new to this lease so I’m trying to understand as much of it as I can
Derek is 100% right. Most insurance GAP covers a percentage while Toyota GAP will cover the full amount. Plus, with your insurance you’ll pay whatever your deductible is with Toyota GAP you do not pay a deductible. I’ll never lease a car without GAP especially if you are rolling in negative equity to it.
Most of the time you can get GAP with Toyota for $600. Pay that upfront instead of rolling it into the lease. How in the world are you getting approx $600 per year? The most I’ve ever seen it be is $1,050 up front.
$545 for Lease
$795 for Finance
A poster here said was $50/month added onto his lease. That’s $600/yr aka $1800 for 3 according to my math.
I think? You should know
Yeah, about that, it’s highly frowned upon on this site. How would any of us know what garbage this dealer sells.
From your posts you seem to be all over the place and haven’t posted any solid numbers. Sounds like @Cody_Carter gave you a decent quote but you shopped it and that dealer might have been less but quoted this crazy $50/mo gap number. So yeah I’m not really sure where you’re at…
Don’t see any topics that you started about a deal that you were quoted on
Doubt anyone locally is beating my numbers 
Especially with GAP and $1k EWU included at no charge
Why are you dealers saying GAP insurance only covers “a portion” of the GAP. That makes no sense at all. Am I misreading?
Maybe you’re referring to the fact that some GAP policies may not include the hazard policy deductible. But a hazard deductible has nothing to a GAP policy. The GAP is still paying the gap. And some GAP policies will pay the deductible so you’d be 100% covered.
The whole reason and point to purchasing this edge case insurance is to cover the difference between what the bank says you owe and what the hazard insurance company will pay in the case of disaster. End of story.
Your car explodes because an EQ in CA occurred and a bridge fell on it while you were eating donuts in a coffee shop. Vehicle is totaled. Insurance says it will pay $42,000. Banks says you owe $48,000. GAP kicks in and pays $6,000.
The policy that I will be getting will cover my deductible as well.
Every GAP policy that I have seen clearly states the above scenario will be covered.
There are of course limits to a GAP policy but those limits don’t affect what the policy is for (to pay the “GAP” for you in normal circumstances like a bridge falling on your car after an earthquake 
) Maybe this is where the confusion is stemming from?
As far as wear and tear you should say “Excessive” because “Normal” wear and tear is included in the contract. The car is being normally used. It WILL have wear and tear. Scratches and the like are NORMAL. Prove they aren’t. A key down the door? No. A bumper chip the size of a pinhead from a freeway rock? NORMAL.
And another misnomer is when people are told they need to pay for tire and brake wear. Ummm. NO. That is also part of normal wear and tear. If it’s not, then the residual value when returning would be at 100% because you’d be asking me to bring the car back to brand new status yet I just paid for 3 years worth of “use”. 3 years of use on tires and brake is what it is. 3 years of use on those items do not equate to brand new brakes or brand new tires. People have to think about this stuff. Clearly I do 
No, he was incorrect and I posted Toyota’s own language proving that.
Their policies vary by state and maybe in your state Toyota covers the entirety but that’s as far as generalizations should go.