Gap price insurance

Ever bought something then saw the price drop on that item? How much would you pay to insure against that price drop?

Turns out it costs nothing.

Gap Canada has just launched a program at ten stores in Vancouver, BC that automatically refunds customers the difference when the price drops in the 45 days after your purchase. All you have to do is sign up at and when the price drops, your account is credited with the difference. Automatically. The credit may be used toward future purchases.

For those of you who enjoy derivatives, it’s like buying an at-the-money put with a 45-day time value for $0.00 premium. A free option!

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