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Discussion Starter #1
did anyone on here who financed their wing purchase GAP insurance ? I bought my wing new and financed for 5 years and paid for GAP insurance, I then paid the wing off 2 1/2 years early and should get a small refund of the GAP insurance however when I called the company listed on the GAP contract they have no record of me or my wing, I called American Honda and I was informed they do not even offer GAP insurance that the dealers have to go to a third party. I then called the dealership, it is several hundred miles away and due to an injury I can not ride nor drive up there for at least a few weeks, and they are evasive on the phone and keep telling me they will look into it and call me back but so far after four calls in the last three weeks no call back. I'm beginning to wonder if the GAP thing is just a scam to collect $500 at the time of purchase ? Oh American Honda in California offered no assistance, which is kind of what I expected
 

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When I purchased my 2012 in May of 2013, they offered me GAP insurance and I bought it. They gave me paperwork for it in my document binder. I also purchased the road hazard for the tires, it was only $400 and I covers the bike for the life of the loan.

I would check and see if they did give you paperwork for that!

Good luck!

Bill..
 

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Discussion Starter #3
When I purchased my 2012 in May of 2013, they offered me GAP insurance and I bought it. They gave me paperwork for it in my document binder. I also purchased the road hazard for the tires, it was only $400 and I covers the bike for the life of the loan.

I would check and see if they did give you paperwork for that!

Good luck!

Bill..
I have all my documents and a signed contract for the GAP with is also included in the total sale price of the bike. The companies listed on the contract have no record for me or my wing.
 

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I have all my documents and a signed contract for the GAP with is also included in the total sale price of the bike. The companies listed on the contract have no record for me or my wing.
Uh Oh.
 

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Sounds like somebody at the dealer pocketed the money. BTW, gap insurance is almost always bad deal for you and a high profit item for the dealer and the insurance company. Looks like the insurance co got left out of this deal!
 

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When I bought mine in '02, I put 50% down and financed the balance for two years. (We made more on the money we had in savings than we paid on the loan, but still paid it off early).
As we were doing the purchase paperwork, the Sales Mgr. said "We are required by law to tell you about Gap Insurance."
I said "What gap?" and he started to explain to me what gap insurance was and how much it cost - and that it was a good idea.
I told him that I knew what gap insurance was, but pointed out that there was NO GAP.

I guess you can't fault them for trying.

Good luck.
 

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I don't see a reason to buy "gap" insurance on a vehicle purchase, even if you pay list and finance the whole thing. You can't lose an arm and a leg even if you wreck the bike riding off the dealer's lot. If you pay anything down at all, you shouldn't have gap between what you owe and the vehicles worth. The one caveat to this is if you put extreme amounts of mileage on you vehicle every year and I'm talking 40-50K and higher. I have a friend who drives escort for wide loads and he put almost 100K on a brand new truck and it was worth considerably less than an average one year old vehicle.

I can see it's value if you lease a vehicle since you only pay for a portion of the value of the car so you are always behind the curve. I think insurance companies saw a way to make a quick buck and started pushing gap insurance on vehicle purchases.
 

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If you have a signed contract that was purchase at an "authorized agent" for the GAP insurance company, then you have valid contract. I would encourage you to file a claim with your state's insurance commissioner and let them do the leg work to get your refund.
 

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If you have a signed contract that was purchase at an "authorized agent" for the GAP insurance company, then you have valid contract. I would encourage you to file a claim with your state's insurance commissioner and let them do the leg work to get your refund.
See post #5
 
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