Compare Cheap Gap Insurance Companies in Utah: Quotes, Discounts (2024)

Insurify Staff
Written byInsurify Staff
Insurify Staff
Insurify StaffInsurance Writers

We’re Insurify, America’s highest-rated insurance comparison site. Insurify is dedicated to providing users with a secure and hassle-free shopping experience. Compare quotes, unlock discounts, and save up to $489 on your insurance policy today.

Updated September 12, 2023

Save up to $717 by comparing quotes from the top 100+ insurance companies

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualTravelers
Advertiser Disclosure

At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.

We do receive compensation when a sale or referral occurs from many of the insurance providers and marketing partners on our site. That may impact which products we display and where they appear on our site. But it does not influence our meticulously researched editorial content, what we write about, or any reviews or recommendations we may make. We do not guarantee favorable reviews or any coverage at all in exchange for compensation.

Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.

Before you hit the road in Utah, you’ll want to make sure you’re covered in the event of an accident. And if you got a loan for or lease your car, you’ll maybe want to consider adding gap insurance for an additional layer of protection.

With Insurify, finding the right car insurance is only a few clicks away.

Best Companies for Gap Insurance in Utah

So you’ve decided you need gap insurance in Utah. But where should you buy such a policy? On average, Utah drivers who are leasing a vehicle pay $199 per month for car insurance, according to Insurify. Below are a few car insurance companies in the state with car insurance rates typically around or below that average.

The rates below were generated from the proprietary Insurify database of millions of unique car insurance quotes, and refer to the average monthly cost of car insurance for drivers of leased cars, who often have gap insurance coverage.

Insurance CompanyAverage Rate
Sun Coast$114
Travelers$117
Clearcover$120
Nationwide$142
Kemper$177
Gainsco$190
Liberty Mutual$240
Dairyland$248
The General$274
Bristol West$270

Several other large insurance carriers offer affordable gap insurance policies, which you can learn more about in this comprehensive guide to gap insurance coverage. Progressive, Allstate, and Liberty Mutual are just a few of the industry heavyweights that help drivers with gap coverage.

Before deciding which insurer you want to work with, be sure to compare insurance quotes from a wide range of companies––for free and in minutes––on Insurify.

Insurify

Compare Car Insurance Quotes Instantly

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualTravelers

What is gap insurance?

Right as you drive your new car off the lot, it becomes “used,” which means its actual cash value has already gone down. Gap insurance refers to the “gap” between the actual cash value of your car and what you owe on your car loan. If your car is totaled or stolen, gap insurance covers the gap between what your insurance covers and what you still owe the bank.

Your lender may require gap insurance in your finance agreement as an additional layer of car insurance coverage. It’s particularly useful for new vehicles that could be described by one of the four Ls: leased, loaned, luxury, or long-distance. The add-on coverage can be bought from your insurance broker or through a waiver agreement with a finance company.

Who should buy gap insurance in Utah?

There are a few circumstances where Utah drivers should opt for gap insurance. Most obviously, you should buy it if you’re working with a lender who requires it. You should also consider buying gap insurance if your lease term is long (over 60 months) or you made a low down payment (under 20 percent).

The structure of your loan and your loan balance aren’t the only factors—the type of driver you are also matters. If you’re a long-distance driver, always heading out to Zion National Park or Bryce Canyon on the weekends, you’ll want to consider gap insurance. The same could be said if you drive a luxury vehicle; they tend to undergo depreciation at a faster rate.

Utah Gap Insurance Laws

Gap insurance is considered a form of optional coverage in Utah and may be referred to in the state as “loan/lease payoff” coverage. It’s an encouraged add-on for drivers who might owe more than their car is actually worth.

In Utah, car insurance limits are $25,000 in bodily injury coverage per person, $65,000 in bodily injury coverage per accident, and $15,000 in property damage per accident. These are roughly standard, though it might be a good idea to carry more than these limits in the event of an accident. Additionally, adding gap insurance on top of these requirements might be needed.

How much gap insurance do I need in Utah?

How much gap insurance you need depends on the vehicle you drive and the nature of your lease agreement. If the actual cash value of your car is low but your outstanding loan amount is high, you’ll want a robust gap insurance policy. You can then cancel this policy once you’ve paid off your loan or the amount owed is close to the car’s value. This could take a couple of years.

How Gap Insurance Works in Utah

Gap insurance is considered an add-on to your auto insurance policy in Utah. It can take the form of a GAP ( guaranteed asset protection ) waiver, which is a contract that agrees to waive the driver’s outstanding loan in the event the car is a total loss or stolen. These can be bought from a dealership that has been licensed to sell such waivers or from your insurance company.

The Utah Insurance Department encourages drivers to carefully read and understand the terms of a GAP waiver before purchase and ask for a copy of your signed contract. For more questions about gap insurance in Utah, contact the Property and Casualty Division of the Utah Insurance Department.

How Much Gap Insurance Costs in Utah

Buying gap insurance through your insurance company tends to be cheaper than buying through a car dealership. Through an insurance company, the gap insurance will usually cost about $5 per month. Meanwhile, a dealership will charge closer to $50 per month—a fairly significant difference.

There are also some third-party companies that offer stand-alone gap insurance policies, though these are similarly expensive. In general, it’s a good idea to buy gap insurance from the same company you buy your main car insurance policy from.

How to Buy Gap Insurance in Utah

If you’re a driver in Utah who doesn’t want to pay too much for your car insurance policy, you should use Insurify to compare quotes. With Insurify, you can research just the policy you need—and find how much you’ll have to pay if you’re adding gap insurance to your policy. The site’s accessible interface makes it easy to find just the right policy at just the right price.

Frequently Asked Questions

  • Does Utah law require gap insurance?

    In Utah, gap coverage is considered an optional form of coverage. But some lenders may require you to get gap coverage as part of your lease agreement. You can add it to your existing policy, which might already include liability insurance, collision coverage, and comprehensive coverage.

  • Do you get money back from gap insurance once you’ve paid off your car?

    If you pay off your auto loan before the end of your gap insurance policy term, you can cancel your policy, and most companies will refund you for the remaining gap insurance coverage. Contact the insurance agent that sold you your gap insurance to get started, and they’ll likely issue your refund in the form of a check in a few weeks.

  • Where can I find cheap gap insurance in Utah?

    Plenty of car insurance companies in Utah offer affordable rates on gap insurance, with many running you just a few additional dollars a month on your car insurance policy. To find the car insurance company in Utah that meets your needs and budget, get started browsing Insurify today.

Compare Car Insurance Quotes Instantly

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualTravelers

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Insurify Staff
Insurify StaffInsurance Writers

We’re Insurify, America’s highest-rated insurance comparison site. Insurify is dedicated to providing users with a secure and hassle-free shopping experience. Compare quotes, unlock discounts, and save up to $489 on your insurance policy today.

Compare Car Insurance Quotes Instantly

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualTravelers

Latest Articles

View all