Yes, you can get gap insurance if you lease a vehicle. In fact, some lenders may require it. Gap insurance is an extra layer of financial security that pays the difference between the actual cash value of the car and what is owed on a lease or loan in case of theft or an accident.
Some lease agreements may already have gap insurance included in them, so be sure to check before purchasing any additional coverage. If it’s not included, it’s usually a good idea to purchase it separately to protect yourself from financial loss.
If you’re unsure whether your lease agreement includes gap insurance, you can contact the lender or check the terms of your lease agreement. Remember that gap insurance is only available if you’re the original loan- or leaseholder on a new vehicle.
On a final note
You can purchase gap insurance from your auto insurance provider or through the dealership where you lease your vehicle. It’s important to note that not all auto insurance companies offer gap insurance, so it’s a good idea to check with your provider or explore other options if necessary.
Make sure to review the terms and conditions of the policy, including the coverage limits and any exclusions. This will help you understand what is and isn’t covered by the policy.
