Hey guys. I’m being offered GAP insurance for a Mazda cx-50 on a lease for $700 in Florida. How can I effectively negotiate this?
Check to see if it’s available as an option on your auto policy, or pick a couple of insurers that offer the option and shop your all of your coverage.
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be careful with shopping “gap” coverage… make sure you comparing apples to apples…i have usaa insurance and they dont offer true “gap” coverage any longer…and the product they do offer “car replacement assistance coverage” does not cover leases either…we got the gap from mazda on our cx70 PHEV…we negotiated it down to 700…you are already at the number so id say take it… surprised that toyota/mazda dont include it standard on leases.
Of course you have to shop for the right coverage. 
(If you must have it)
I think it’s a complete waste of money, and would self-insure on a Mazda.
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This is the correct answer.
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I thought all leases required GAP coverage?
Mazda goes though Toyota Financial, and, IIRC, Toyota Financial doesn’t provide GAP coverage.
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@delta737h said it best:
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You should probably run the numbers and consider canceling while you still can
What’s the balance owed on the car?
What’s an approximation of what insurance would pay out? The delta is the “gap” and it’s often not very large on a well-negotiated vehicle from a popular brand.
I would personally only buy gap if I had to roll negative equity into a new loan/lease (most leases come with it anyways as far as I know) and it actually covered the entire negative amount. I have never been in that situation but it would be cheap insurance for a really bad situation. Most people that have a bad negative equity roll over cannot afford a surprise later.
That’s how I look at it…$350 per year for peace of mind. The insurance companies love me, I’m always over insured. I sleep great. I would love to hear from someone who actually had a total loss on a lease and didn’t have GAP.