Gap insurance is an optional auto insurance coverage that helps pay your car loan if your car is lost or stolen and you owe more than the vehicle is worth.
The cost of gap insurance depends on your state, driving record, and vehicle. You may be able to purchase gap insurance as an endorsement on your car insurance policy, or buy separate coverage from the dealer. It may be worth comparing the costs of both options to see which one is the ...
Gap insurance can come to the rescue if your vehicle is totaled or stolen and you owe more on it than what it's worth.
Gap insurance is meant for the unexpected, much like all insurance. If your car is totaled or your vehicle is stolen, gap insurance coverage may apply if you owe more than the car is worth at that time. Gap insurance may make sense if: ...
GAP insurance is a kind of auto insurance policy that vehicle owners by to protect themselves from losses caused due to the compensation received after an accident
An insurance agent may also mention the following protections as part of full coverage insurance: rental reimbursement, roadside assistance, guaranteed auto protection (GAP), tire damage, towing and breakdown coverage. You get the idea. Every scenario is covered by another add-on to your basic big...
Gap coverage:If you leased or financed your car,gap insurancecan pay for the difference between the depreciated value of the car your insurer is willing to pay and the balance on your loan or lease. New car replacement: If your car is totaled or stolen, new car replacement insurance provide...
Gap insurance helps pay off your auto loan if your car is totaled and you owe more than its depreciated value. See our informational video and find out more.
Gap insurance is also known as "loan payoff" or "lease payoff" insurance. You should request it if you're taking out a loan for a large portion of your auto's value. You'll have to pay for that "gap" out of pocket if you owe more on your loan than your car is worth and you...
GAP insurance isn’t for everyone. The only way to know for sure is to crunch the numbers to figure out when you’ll break even – when you no longer owe more than the car is worth. To do this you’ll need to know things like: The cost of the coverage offered (this will vary)...