does gap insurance transfer if you refinance
Gap insurance coverage is associated with a specific auto loan. It can't be transferred or reassigned to another loan, even one that covers the same vehicle. When you refinance, your loan is paid off and your gap coverage ends. If you want to maintain gap insurance on your car, you'll need to purchase a new policy.hen you refinance, the interest rate and length of the loan can change. Ask your auto insurance company what they'll pay if the car is declared a total loss. If that amount is less than you owe, consider adding gap coverage to the new loan.