3 Gap Insurance Refund Letter Templates: Claim Fast

The templates for a Gap Insurance Refund Letter combine essential elements and scenarios for refund requests, such as loan payoff, vehicle sale, and policy cancellation, all structured to ensure clarity and professionalism.

Template 1: Early Payoff of Vehicle Loan





[Your Name]
[Your Address]
[City, State, Zip Code]
[Phone Number]
[Email Address]
[Date]

[Insurance Company Name]
[Company Address]
[City, State, Zip Code]

Subject: Request for Gap Insurance Refund due to Early Loan Payoff

Dear [Insurance Company’s Name] Customer Service,

I am writing to request a refund for my Gap Insurance Policy, numbered [Policy Number], associated with my vehicle identified by VIN [Your Vehicle’s VIN Number]. This request is prompted by the early payoff of my vehicle loan on [Date of Loan Payoff], well ahead of the scheduled term end.

I have attached the necessary documentation proving the loan’s early settlement, including the payoff statement from [Lender’s Name] and a letter confirming the loan closure. Given that the original insurance policy was intended to cover the gap for a longer term, I believe I am entitled to a prorated refund for the unused portion of the premium.

Please find the following documents attached for your reference:

  • Payoff confirmation from [Lender’s Name].
  • Proof of payment and account balance.
  • Copy of the original Gap Insurance Policy.

I kindly request the refund be processed in a timely manner and appreciate your guidance on if additional information is required to expedite this request.

Thank you for your attention to this matter. I look forward to your prompt response and resolution.

Sincerely,

[Your Name]


Template 2: Sale of the Vehicle

[Your Name]
[Your Address]
[City, State, Zip Code]
[Phone Number]
[Email Address]
[Date]

[Insurance Company Name]
[Company Address]
[City, State, Zip Code]

Subject: Gap Insurance Refund Request – Vehicle Sale

Dear [Insurance Company’s Name],

I am contacting you to request a refund for the remaining portion of my Gap Insurance Policy, numbered [Policy Number]. This request follows the sale of the insured vehicle, VIN [Your Vehicle’s VIN Number], on [Date of Sale].

Given that the insurance is no longer required due to the vehicle’s change of ownership, I am seeking a prorated refund for the period the policy will not be in use. Attached, please find the bill of sale and the transfer of title documents as proof of the vehicle sale.

Included Documents:

  • Bill of Sale.
  • Vehicle Title Transfer Document.
  • Copy of the Gap Insurance Policy.

I trust that the provided documentation will suffice for processing my refund request. Please advise if further information is necessary.

I appreciate your prompt and favorable action on this matter.

Best regards,

[Your Name]


Template 3: Cancellation for Other Reasons

[Your Name]
[Your Address]
[City, State, Zip Code]
[Phone Number]
[Email Address]
[Date]

[Insurance Company Name]
[Company Address]
[City, State, Zip Code]

Subject: Request for Gap Insurance Policy Refund – [Specify Reason]

Dear [Insurance Company’s Name],

I am writing to initiate the cancellation of my Gap Insurance Policy, numbered [Policy Number], and to request a refund for the unused premium. The reason for this cancellation is [Specify Reason: e.g., financial hardship, dissatisfaction with service, etc.].

To support my request, I have attached relevant documentation, including [Specify Documents: e.g., financial statements, correspondence with customer service, etc.], which corroborates my reason for cancellation.

Enclosed Documents:

  • [List of attached documents, tailored to the specified reason for cancellation].
  • Copy of the Gap Insurance Policy.

I trust that my request will be reviewed and processed in a considerate and timely manner. Please inform me of any additional information needed to facilitate this process.

Thank you for your understanding and cooperation.

Sincerely,

[Your Name]


Each template is designed to be adapted to your specific circumstances and should be adjusted to include all relevant information and documentation to support your refund request. It’s important to follow up with a call or email if you do not receive a response within a reasonable time frame

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