GITNUX MARKETDATA REPORT 2024

Statistics About The Average Cost Of Gap Insurance

The average cost of gap insurance is around $60 to $100 per year.

Statistic 1

"The average monthly cost of GAP insurance ranges between $5 and $15."

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Statistic 2

"GAP insurance added to a loan can cost approximately $40 to $60 per year."

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Statistic 3

"The average GAP insurance cost for a 36-month lease is about $450."

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Statistic 4

"GAP coverage from a standalone GAP insurance company may cost $100 to $150 per year."

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Statistic 5

"Adding GAP insurance to a lease agreement generally increases the lease payment by $10 to $15 per month."

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Statistic 6

"The average cost of GAP insurance is typically $20 to $40 per year when added to your car insurance policy."

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Statistic 7

"Higher-risk drivers may pay up to $70 annually for GAP insurance from an insurer."

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Statistic 8

"Bundling GAP insurance with full-coverage auto insurance can reduce the GAP premium by up to 20%."

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Statistic 9

"On average, GAP insurance makes up to 0.5% to 1% of your car's loan amount over the term of the loan."

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Statistic 10

"Many car insurance providers offer GAP insurance at an annual cost between $20 to $45."

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Statistic 11

"GAP insurance costs are generally lower for older cars, typically around $20 per year."

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Statistic 12

"The average cost of GAP insurance can be reduced by selecting higher deductible options."

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Statistic 13

"The average cost of GAP insurance purchased from a dealership is around $600."

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Statistic 14

"GAP insurance purchased directly from your insurance company can cost as little as $25 per year."

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Statistic 15

"GAP insurance for luxury vehicles can cost around $75 annually, while for economy cars, it can cost as low as $20."

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Statistic 16

"Dealerships typically charge between $400 to $700 for a GAP insurance policy."

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Statistic 17

"GAP insurance typically costs around $15 annually when added to a new car's lease."

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Statistic 18

"The average one-time fee for GAP insurance at the point of sale is between $200 and $300."

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Statistic 19

"The cost of GAP insurance is not regulated by state laws, leading to a wide range of prices."

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Statistic 20

"Depending on the car make and model, the cost of GAP insurance can vary by up to 30%."

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