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  1. #1
    Join Date
    Nov 2005
    Location
    New York
    Posts
    3

    Default Cancelling GAP insurance

    Thank you for having such a wonderful forum. I just purchased a new vehicle on friday. I was sold GAP insurance because I was told by the manager that I need to have it for my Finance loan. I have read the contract and there was nothing stated that I could not cancel the GAP coverage.

    My question is, is it possible to cancel the GAP coverage and receive my money back? Thank you in advance all.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Cancelling GAP Coverage

    Did you check to see if the policy has a cancellation clause? If so, follow the instructions for cancellation as set forth in the clause.

  3. #3
    Join Date
    Nov 2005
    Location
    New York
    Posts
    3

    Default

    I called the company up and they told me that I could cancel the GAP Insurance but contact the Dealership to cancel it. My question is, if there was nothing on the contract stating I could not cancel the Insurance, will there be anything the dealers can do to prevent me from cancelling the GAP insurance?

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Cancelling Insurance

    If the policy permits cancellation, then the dealership should honor your request.

  5. #5
    Join Date
    Nov 2005
    Location
    New York
    Posts
    3

    Default

    Can the Dealership deny my cancellation request for GAP insurance? We are going to be paying off the loan right away and I do not see a point in keeping the gap insurance. Thank you for your advice in advance.

  6. #6
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Check the policy language

    Have you checked the actual language of the policy yet, to see what your rights are?

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