Benefits of Gap Insurance For Your Kia

If your Kia is totaled or stolen, your gap insurance will pay the difference between the actual cash value of your car and your loan amount.

What is KIA GAP Insurance?

Drivers looking for the best coverage for their next Kia model often ask this question. GAP insurance (or Guaranteed Asset Protection insurance) is designed to protect you. It covers the difference in the vehicle’s value and the amount owed on it. GAP insurance is more than just another cost. Gap insurance has its own benefits and drawbacks. Find out if KIA GAP insurance is right for your needs.

What Does Kia GAP insurance cover?

Kia GAP insurance pays for the repair of your vehicle, but it doesn’t cover any bodily injury, mechanical repairs, or your deductible. GAP insurance, on the other hand, is designed to protect drivers from unexpected events and offer outstanding coverage for drivers who have any of these:

• Theft
• Fire
• Vandalism
• Accidents
• Natural damages (tornado, hurricane, flood, etc.)

How Can I Get KIA GAP insurance?

GAP insurance can be purchased by drivers who feel it is the right fit. Signing up will require a $20 annual fee and a one-time fee at the time of purchase.

What does GAP insurance For Kia really cover?

Gap insurance is essentially an optional coverage for car insurance, which helps to pay off your auto loan in the event that your car is stolen or totaled. Gap insurance covers the difference between what your car is worth and what you owe.

Do Kia leases include gap insurance?

The lease that you have with Kia finance is protected automatically by Gap insurance. If your vehicle is stolen, totaled, then you will not have to pay the balance owed on your lease.

How to cancel gap insurance with Kia?

You can cancel gap insurance for your Kia once what your car is worth drops below the actual loan amount. Also, after about 2 years of payments, you could cancel your gap insurance.

Is GAP Insurance Required For My Kia?

Leasing companies will often require that you have gap insurance if you lease a vehicle. It is usually included in the lease agreement at no additional cost. You can purchase it as an optional add-on if it isn’t included in your lease agreement.

While lenders don’t usually require you to have gap insurance when financing a vehicle, you may be able to purchase the GAP coverage through either the lender or an auto dealer. Gap insurance is often sold by car dealers and lenders for a premium between $500 and $700. However, if you purchase the coverage through a dealer or lender, they may add it to your loan, which will increase your loan.

Kia GAP insurance refund?

You can request a refund if you drop your Kia gap insurance coverage during a coverage period. You may not be notified by the insurer that you are entitled to a refund. They will likely not automatically reimburse you. Most cases will result in a refund of the coverage you have not used.