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Question

If I have gap insurance and totaled my car, but there is no gap between insurance payment and remaining loan balance, do I get a refund?

I hit a deer, which totaled my car, but it turns out there's no gap between my remaining balance and claims payout. How is this handled and do I get a refund?

Jan 21, 2020 Woodland, CA

Answer
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Kristine Lee

Insurance Analyst

Credentials
  • Licensed Insurance Agent — Property and Casualty
  • 4+ years of Experience in the Insurance Industry

Kristine is a licensed insurance agent who joined The Zebra in 2019 as an in-house content researcher and writer. Before joining The Zebra, she was a…

Not all gap insurance is written in the same manner, so you may have to refer to your insurer to get more information. From my understanding, if you pay off the loan and didn't use gap insurance to do so, they will probably refund some premiums paid back to you. It doesn't hurt to call them up and ask.

If you have any questions, don't hesitate to ask.

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