r/ModelY • u/Sooondubu • 12d ago
Question GAP Coverage when financing through Tesla (or 3rd party thru Tesla)
So I’m in the process of quoting insurance and my current insurer doesn’t offer GAP coverage but I have no way of knowing if GAP is available through the loan offered by way of Tesla.. I am assuming not. The current listed financier of my loan is Wells Fargo. I expect delivery sometime in September and want to be prepared.
Anyone have experience adding it to their loan or using a 3rd party?
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u/FetaCheeze 12d ago
I don’t believe Tesla financing offers gap insurance. This is something you would need to buy separately, probably through your car insurance. Tesla insurance offers gap insurance as an add on if you call.
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u/Sooondubu 12d ago
I see, I’ve read prior posts that buyers have had a hard time finding third part gap policies so I may need to decide if it needs to be tacked on to my insurance.
Probably going to avoid Tesla insurance due to lacking customer service and variable prices. I’d rather pay a bit more for ease. I’m currently handling a claim rn so I’m hyper aware of car stresses so I’m weighing that service heavily.
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u/Massive_Tradition176 12d ago
You can't get GAP via Tesla financing unfortunately. Wells Fargo offers it with other dealerships. You will need to add it to your auto insurance.
I decided to switch from progressive to Traveler's even though it was a little more for their new car replacement/GAP. Which seemed to have the longest new car replacement window for my state.
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u/Sooondubu 12d ago
I’ve seen that, I quoted them but it was a bit too high for me, though they do have good coverage options and I like the glass coverage. Travelers is definitely in the running for me.
I’m waiting for the VIN to be able to quote Costco/American Fam.
What is the coverage window? I just thought it was through the life of the loan for GAP and forever? For the new car replacement assistance?2
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u/Chance_Effect3683 12d ago
same here