The 4 Best Gap Auto Insurance Providers

June 13, 2013

Rating gap auto insurance providers is not the easiest job with so many companies offering the same insurance. While there are several criteria for rating providers of GAP insurance coverage, the criteria that are most important include price, confidence, customer service, quality and availability of a variety of coverage options.

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Progressive Casualty Insurance Company

Progressive is a great insurance company that enjoys a lot of positive feedback from customers with respect to price and confidence. Here are the features that clients like the most about Progressive:

  • The offering of structured insurance options ranging from Choice to Minimum, Economy and Plus, all at competitive prices.
  • Offering a price comparison option through their popular comparison shopping module.
  • Waving off the usual 25% down payment required by most other insurance companies.
  • Allowing an 18-day window to gather and send in necessary documentation on currently insured cars.

If you are planning to pick up a quote from Progressive, however, you should be aware of the following requirements:

  • If you choose to pay monthly premiums, you must choose their EFT feature. This enables automatic monthly fund deductions from your bank account.
  • Progressive offers a variant of GAP insurance called the Loan/Lease Payoff coverage to its customers. Details are available on their website at www.progressive.com.
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Allstate

The cheapest insurance is not always the best. Therefore, though Allstate has a public reputation of being a little more expensive than others, the following features still make it the choice of many:

  • Accident forgiveness offers
  • A yearly reduced deductible/no-claims discount when you remain claim-free

Many clients have complained about the speed of getting coverage through Allstate. This might, however, be related to their attention to detail and trying to get everything right.

Allstate is one the leading providers of GAP auto insurance, with details found at www.allstate.com.

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State Farm

This is one the biggest insurance companies in the world. The company was propelled by good and innovative insurance practices introduced by its founder, George J. Mecherle, in 1922. The firm has the following features to its credit:

  • Great reputation as a foremost insurance company
  • Rare standards of reliability - a gem in the insurance world
  • Low rates compared with the quality of coverage
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The firm boasts of reliable local agents that will always be there when you need them most. Though recent premium increases saw the defection of many of their clients to other insurers, the company has maintained its reputation as being one of the most reliable in the field. More details are at www.statefarm.com.

AAA (American Automobile Association, Inc.)

AAA consists of several independent clubs and organizations pledged to offering different kinds of services to the community. AAA offers a great GAP insurance coverage. The special features of AAA include the following:

  • Good insurance coverage at affordable rates
  • Free towing services in the event of a collision
  • Fringe benefits like free travel maps, lodging reviews and guidebooks
  • Discounted AAA-approved hotel rates
  • Discount travel packages
  • Get Free AAA Quotes >>

Details of their coverage are available at http://www.texas.aaa.com/en-tx/Pages/Home.aspx

Though no insurer is completely void of faults, these 4 have managed to stay above board as gap auto insurance providers.

Related Questions and Answers

Is Buying Gap Insurance Necessary for Leasing Cars?

Buying gap insurance should always be a consideration when leasing a vehicle. While it's not necessary, it can save you a lot of money in the event of an accident. This is due to the setup of the collision insurance you were required to purchase with the vehicle. It will cover damage to the vehicle in a collision, but will not take care of payments, taxes or other fees to get out of the lease. Gap insurance can help cover these expenses so you're able to get into another car quickly and avoid having to come up with a payoff on the totaled vehicle lease.

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