Mark Thomas

Can you get the dealer to throw in gap insurance on a financed truck?

CJ

Uhh....what is gap insurance Did I miss something when I bought mine?
CJ

CTDinMT

Yup- I got gap insurance when I bought my rig, just in case.
-Gap Insurance is where you will be covered to the pay-off balance of the truck. ie.. You just bought the rig and drive it off the lot and total out the truck. Insurance will pay what they say is the value of the truck. Whatever is remaining on your loan will be covered by the Gap Insurance. Good peace of mind. -Steve

jfpointer

If you can get the dealer to throw it in for free, that would be pretty cool. Otherwise it's probably cheaper through your insurance company. Having had to cough up the difference when a previous car of mine got totalled, I won't be without it again.

RustyJC

I don't know if it's available on the truck, but the insurance company I'm about to switch to is willing to provide full replacement value coverage on the RV (see signature) for the next 5 years. If it gets totalled, they will pay whatever it costs to replace it with a like model, even if prices go up 20%-25%. That's even better than the "declared value" coverage I now have, and for substantially less premium than I'm paying to State Farm today.

Rusty

Patrick Campbell

GAP insurance is not that much. Mine was $300 on my truck.

FWIW, I owe about $25K on my truck. Insurance will pay about $20K.

GAP will pay $5K including my $1000 deducticle.

The tricky part is getting insurance to cut me 2 checks, 1 for $1000 for my aftermarket stuff and have it go to ME and not make the GAP insurance company have to pay less by the insurance company paying me $21K and GAP $4K and me losing that money.

For ~$5/month I never thought I'd need it, but now that I do, I'm glad I have it.