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Best Cheap Gap Insurance Companies in Washington, D.C.: Quotes, Discounts (2022)

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Maria Sanchez

By: Maria Sanchez

Edited by Jackie Cohen | Reviewed by licensed insurance agent, Amber Benka

Last Updated June 15, 2022

Why you can trust Insurify

Insurify partners with top insurance companies and is a licensed agent in all 50 states. However, the insurance experts writing our content operate independently of our partners. Check out reviews from over 3,000 satisfied customers, how we make money, our data methodology, and our editorial standards.

Though the nation’s capital is known for it’s great public transit system, many residents choose to own a car to travel anywhere—from the White House to the Mall to driving around during cherry blossom season. Comparing car insurance policies, even gap coverage, is simple and free on Insurify, the highest-rated car insurance quote comparison platform on the internet.

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Best Companies for Gap Insurance in Washington, D.C.

If you’re a car owner or a leaseholder, gap insurance might be of interest to you. Getting the coverage you need to protect you and your assets shouldn’t cost you an arm and a leg, so Insurify put together a list of the best companies to make sure you’re not underinsured.

Insurance CompanyAverage Monthly Cost
Travelers$173
Nationwide$233
Midvale Home & Auto$279
Liberty Mutual$285
The General$383
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

What is gap insurance?

If you, as a car owner, are ever in an accident or a victim of car theft, your auto insurance policy might have coverage limits that only cover the current market value of your car. Gap insurance is an add-on to your existing policy that covers the gap between the current market price of your car and the total owed after an accident or theft.

This additional coverage can be useful for drivers who lease their cars. It is important to note, though, that it only applies if you owe more than the car’s value after depreciation. Also, gap insurance is not applicable to everyone. It is only available to policyholders who own the original loan of a new car or are the leaseholders. This is also called or can be bought as a gap waiver.

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Who should buy gap insurance in Washington, D.C.?

Is gap insurance required in Washington, D.C.?

While drivers in Washington, D.C. are not required to carry gap insurance, many lenders require leaseholders to purchase this type of coverage. If you lease a car, make sure you check with your lender to see if they require gap insurance.

Gap insurance can be an option for many drivers, depending on their financing situation. Most auto insurance policies include liability coverage, collision coverage, and comprehensive coverage, so it can be confusing to know if you should include optional add-ons to your policy. Continue reading to see if gap insurance is an option for your D.C. auto insurance policy.

This type of auto insurance coverage is beneficial for those who have different finance plans for their vehicles. A car owner who has financed their car for five years or longer, made a less-than-20-percent down payment on their car, or leased their car will benefit from gap insurance. Also, it can be helpful for car owners of quickly depreciating cars or those with equity rolled over from old loans.

Gap coverage does not typically cover medical expenses or bodily injury but rather the value of the car if it experiences any physical damage or is stolen. There are other policy add-ons to cover reimbursements for additional needs if you, as the motorist or renter, are interested. These can range from covering property damage to liability insurance.

Washington, D.C., Gap Insurance Laws

In Washington, D.C., there is no car insurance requirement to include gap insurance on your policy. Insurance providers, lenders, or the car dealership cannot force you to buy it. Therefore, the amount of coverage you decide to buy—if any—is entirely up to you!

However, if you are leasing your car, certain lenders may require you to opt for gap insurance, depending on whether you have a car loan or lease. Gap insurance is the same in the District of Columbia as across the country in that it is not required for motorists, leasers, or car owners.

How much gap insurance do I need in Washington, D.C.?

Your need for gap insurance may depend on other factors, such as whether you practice safe driving habits or if previous claims and collisions have impacted your driving record. If you have the minimum coverage on your policy or a low deductible with an interest in adding coverage, it could be of interest to you. Adding gap insurance can still mean having cheap car insurance!

Combining add-ons and insurance policies can help you get the full coverage you need for yourself and for your vehicle. This may be a good option if you feel underinsured or need more protection to be a safe driver. In any case, gap insurance is not required for Washington, D.C., car insurance. How much coverage you buy is entirely up to you and your unique needs!

See More: How Much Car Insurance Do I Need?

How Gap Insurance Works in Washington, D.C.

Gap insurance works the same in Washington, D.C., as it does in the rest of the country. “Gap” stands for “guaranteed asset (or auto) protection.” It makes sure that your finances are protected after your car suffers an accident or theft. This add-on covers the gap between the current market price of your car and the total owed on your loan.

It covers the remaining balance of a car loan or lease after damage. However, this is only applicable after your existing insurance policy pays for the current market price of your vehicle. Gap insurance exists for when your insurance provider’s payout does not fully cover the amount you owe in car payments.

In the case of a total loss claim—like an accident, theft, or a totaled vehicle—your insurance company will usually cover the actual cash value of the car. This is the dollar amount that the car is worth in the market today. However, this is usually less than what you originally paid for it because cars go down in value (or depreciate) the second they leave the dealership.

How Much Gap Insurance Costs in Washington, D.C.

According to Insurify’s tools, D.C. drivers can pay an average of $264 for car insurance. However, the total price of gap insurance on top of your existing coverage can vary depending on other factors, like your financial history and driving record. For example, history of a DUI, your credit score, or previous collisions can affect how much it costs for each individual.

Be sure to shop around for a great policy! The average cost of coverage can vary from insurer to insurer. Big brand names like GEICO, Allstate, State Farm, and USAA may dominate the market, but it’s easy to get quality coverage from lesser-known companies at a rate you can afford. Use Insurify’s tools to easily find insurance rates in minutes, just by typing in a ZIP code.

See More: Average Cost of Car Insurance in Washington, D.C.

How to Buy Gap Insurance in Washington, D.C.

It’s easy to buy gap insurance as a D.C. driver! Without very many steps at all, drivers can enroll in this add-on directly at their auto dealership when they buy their new car or start a new lease. Pre-existing policyholders can get gap coverage through their insurance company if they are taking out a new car loan. Check your options at a dealership, bank, or insurance company.

The best way to get quality coverage you can trust at a rate you can afford is by shopping around and comparing quotes. Washington, D.C., drivers are better off using Insurify to get side-by-side comparisons on prices and get the best rates that satisfy all of their requirements. This way, we do all the legwork to make sure that you aren’t underinsured behind the wheel.

Frequently Asked Questions: Gap Insurance in Washington, D.C.

  • No, Washington, D.C., law does not require anyone to own gap insurance. Lenders, dealers, and insurance agents are not allowed to force you to buy this. However, while it is not required by law, it might be a good option for car owners or leaseholders who finance their cars for five or more years, make a lower down payment on their car, or own a car that quickly depreciates.

  • Gap insurance does not work this way. This add-on is specifically meant to help car owners or leaseholders who need extra support with paying off a loan if their car is damaged in a car accident or totaled. You do not get money back from gap insurance once you’ve paid off all your required car payments or loan unless you have paid it all up front and pay off your car early.

  • Washington, D.C., drivers, look no further—Insurify can be used by anyone who is interested in finding a quality policy at a rate they can afford. In just a few minutes and clicks, Insurify’s tools sift through millions of quotes from hundreds of companies in the market. We do all the work to give you side-by-side comparisons for free, so you get full coverage without breaking the bank.

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  • The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.

    Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews. 

    With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.

Maria Sanchez
Maria Sanchez

Insurance Writer

Maria Sanchez is a personal finance writer specializing in auto, home, and renters insurance. With a special interest in educational content, Maria distills complex financial information to be more accessible to the greater public. She holds degrees from the University of Massachusetts and the London School of Economics.

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