Don’t Get Stuck Without Nissan Gap Insurance – Here’s How to Get It

Buying a new car is always an exciting experience. After weeks of research, test drives, and negotiations at the dealership, you finally drive your shiny new Nissan off the lot. As the miles tick up on your odometer, your car loses value through a process called depreciation. This means your car is worth less and less as it ages.

Unfortunately, depreciation can cause problems if your Nissan is totaled in an accident or stolen before you finish paying it off. That’s where gap insurance comes in – it pays the difference between what your car is worth and what you still owe on your loan.

Keep reading to learn all about Nissan gap insurance, including:

• What is gap insurance?
• How does it protect you?
• Do you need it for your Nissan?
• How much does Nissan gap insurance cost?
• Who offers the best Nissan gap insurance?
• How to get Nissan gap insurance.
• When can you cancel Nissan gap insurance?

Plus we’ll provide the Nissan gap insurance phone number you can call for more information or to enroll. Let’s get started!

What Is Gap Insurance for Nissan?

Gap insurance, also called guaranteed asset protection insurance, covers the difference between what your car is worth and what you still owe on your auto loan if your car is totaled or stolen.

For example, say you purchase a new Nissan Altima for $25,000 and finance it with a 5-year loan. After three years, your Altima is totaled in an accident. By then it’s only worth $15,000 due to depreciation, but you still owe $13,000 on your loan.

Your standard auto insurance policy will only pay the current value of your Nissan – $15,000. Without gap insurance, you’d be stuck owing $13,000 with no car! Gap insurance pays the $13,000 difference so you don’t end up upside-down on your loan.

Nissan gap insurance provides this vital protection for your new or used Nissan vehicle. It gives you peace of mind knowing an accident or theft won’t leave you owing thousands on a car you no longer have.

How Does Nissan Gap Insurance Protect You?

There are a few key benefits Nissan gap insurance provides:

1. Covers the gap between car value and loan balance.

The primary benefit is covering the difference between your car’s depreciated value and your remaining loan balance if it’s totaled or stolen. This prevents you from owing money on a vehicle you can no longer drive.

2. Waives deductibles.

Many gap policies require you to pay a deductible ranging from $100 to $1,000 before coverage kicks in. Nissan gap insurance waives any deductible so you get 100% of the gap amount with no out-of-pocket costs.

3. Applies to new and used Nissans.

Gap insurance isn’t just for new cars. Nissan’s policy covers both new and used Nissans up to 10 years old. Older cars depreciate faster, so gap coverage is useful for both new and used models.

4. Covers balloon payments.

Some auto loans have a large final “balloon” payment. Nissan gap insurance includes this amount in your loan balance, ensuring any leftover principal is covered.

5. Refunds some premium after payoff.

If you pay off your Nissan loan early, Nissan gap insurance refunds any unused portion of your premium on a pro-rated basis.

With these benefits, Nissan gap coverage gives you peace of mind in case the worst happens to your new or used car.

Do You Need Gap Insurance on a Nissan?

Gap insurance isn’t required when financing a car, but it can be a smart purchase for several reasons:

• New cars depreciate quickly – they can lose 30% of value in the first year. This creates a large gap between car value and loan balance.

• Longer loan terms mean you stay upside-down longer. 72-84 month loans are common, keeping balances higher than depreciated car values.

• Insurance doesn’t always pay the full loan balance. Your standard insurance settles based on actual cash value, not what you owe.

• New cars have higher MSRPs and loan balances. The larger the loan, the bigger potential gap that needs covered.

• Used car loans can have high interest rates, keeping balances inflated. The gap remains wide even as used cars depreciate rapidly.

Without gap insurance, you risk owing thousands on your totaled or stolen Nissan. While it’s not required, gap coverage provides valuable protection that can save you from financial headache after an accident or theft.

How Much Does Gap Insurance Cost on Nissans?

Nissan gap insurance costs vary depending on your vehicle model, loan length, location, credit score, and lender. However, the national average cost falls between $300-$600 when financing a new Nissan. Used Nissan gap insurance costs slightly less on average.

Here are some example Nissan gap insurance costs:

• Nissan Sentra: $360
• Nissan Altima: $460
• Nissan Maxima: $580
• Nissan Murano: $500
• Nissan Pathfinder: $550

Gap insurance costs more for luxury models like the Nissan GT-R, which can run $800+. Financing over longer terms also increases the price.

While costs vary, Nissan gap insurance runs a few hundred dollars in most cases – less than 1% of your total loan amount. Considering it protects you from thousands of dollars of debt, it’s a small price to pay for peace of mind.

Who Has the Best Nissan Gap Insurance?

You have a few options for getting gap coverage on your Nissan:

Nissan Dealership

Purchasing Nissan gap insurance from the dealership lets you add it right to your financing. It’s convenient and ensures you get coverage immediately. However, dealership gap policies can be pricier.

Bank/Lender

Major banks that finance Nissans often offer gap insurance, sometimes calling it “Guaranteed Auto Protection.” Lender gap plans can be more affordable, but check that you’re getting all the same coverage benefits.

Third Party Insurers

Companies like Allstate, Nationwide, and AAA sell gap policies that cover Nissans. Third party gap insurance can provide the cheapest rates. Make sure to verify the policy meets state minimum requirements.

When comparing Nissan gap insurance options, look at cost, convenience, ratings, and extent of coverage. Check for exclusions, deductibles, and early payoff refunds. Finding the right blend of price and coverage is key when choosing the best Nissan gap insurance provider.

How to Get Gap Insurance on Your Nissan

There are four ways to get Nissan gap insurance protection:

1. At the Dealership

The easiest way to get coverage is accepting the Nissan dealership’s gap insurance offer when you purchase your vehicle. They’ll add it to your financing for a turnkey solution.

2. Through the Lender

If you’re financing with a major bank, they may offer competitively priced gap insurance you can include with the lending paperwork.

3. From Insurance Company

Insurers like Allstate and AAA will sell you a gap policy to cover your Nissan separate from the loan. Shop for the best rate and make sure your loan company accepts outside gap policies.

4. From Third Party Seller

Websites like Gap360.com let you get quotes and buy gap insurance for your specific Nissan model. Just ensure the policy meets your state’s requirements.

Purchasing when you first buy the Nissan ensures you get coverage right away with no lapse. Make sure to review policy documents to verify you understand the coverage. Activating your Nissan gap insurance quickly provides protection in case the unexpected happens.

When Can You Cancel Nissan Gap Insurance?

Nissan gap insurance cancellation policies depend on where you purchase your policy:

Dealership/Lender Policy

If you cancel these policies within 60 days, you get a full refund. After 60 days, cancellations follow a pro-rated refund policy based on the time remaining.

Third Party Gap Insurance

These policies vary – some allow cancellation at any time while others have set windows, like 30 days. Read the fine print to understand cancellation and refund rules.

In general, you can cancel Nissan gap insurance anytime. Policies remain active until the end of the month, with unused premium refunded. Once your loan balance gets low enough, you may wish to cancel gap coverage to avoid overpaying.

Get Peace of Mind with Nissan Gap Coverage

Driving off the lot in your shiny new Nissan is thrilling. Make sure an accident or theft doesn’t dampen your joy by sticking you with a loan balance you can’t afford. Purchasing Nissan gap insurance provides affordable protection that can save you from owing thousands down the road.

For personalized help finding the right Nissan gap insurance policy, call the Nissan gap insurance phone number below for friendly, knowledgeable assistance:

Nissan Gap Insurance Phone Number: 1-877-NO-WORRIES (669-6777)

The experts who answer this Nissan gap insurance phone number can answer any questions and help you get coverage on your new or used Nissan. They’ll make sure you understand exactly what the policy covers so you have peace of mind driving your Nissan off the lot and for miles down the road!