So i have a 2015 Nissan Micra, SV trim, automatic.
I like it. I'm the first owner. I live in BC, Canada. It's my only car.
It was brought to my attention by the broker that i can buy gap insurance (Optiom, for those of you familiar with our insurance providers) that is specifically for used vehicles. These are the quotes:
MY CAR VALUE: according to her system, is $10,726
GAP INSURANCE: will pay the difference between my above car value and what insurance pays me in case of total loss, for up to $60k max
here are the quotes i got:
- gap coverage up to 5years? fee is $1526
- coverage up to 3years? $1138
- coverage up to 2years? $977
now, if i were driving this car very often, then this would be no brainer....but here's my situation: at this time, and for forseeable future, i ONLY use my car for pleasure, and it's about once per two weeks. however, this may change, depending on my living & working conditions in the mid/long term future. But not in the short term.
- that $10,726 figure is honestly higher than i thought.... But checking my local Craiglist shows this is about right. not too high, not too low. So far, pretty fair.
- here's what VMR canada & Canadian Black Book says: https://imgur.com/a/lRUFGxa
im split on this...what do you think? should i bite?