The cost of gap insurance depends on how you purchase the policy and the car you drive, among other factors. We gathered quotes for a financed 2020 Ford F-150 and found that gap insurance costs can range from $20 to $56 per year. But if you buy gap insurance through a dealer or your lender, you could pay a flat rate from $200 to well over $500. But your gap insurance costs will vary based on your claim history, location, and the type of car.
Gap insurance (guaranteed asset…
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