Is gap insurance worth the cost? Learn how gap coverage works, who needs it (and who doesn’t), how to avoid overpaying and ...

Ashlee is an insurance editor, journalist and business professional with an MBA and more than 17 years ... by car insurance or gap insurance. No. Gap insurance coverage strictly pays out based ...

You would also be on the hook for your $500 deductible on your collision insurance. That would be more than $5,000 in this case. If you had gap ... no violations on their record for full coverage ...

Insurers use actual cash value, which takes into account depreciation and other factors, to determine how much they’ll pay if ...

You’ll need to cover the remaining $10,000 of your loan, even though you are no longer ... a policy. Gap insurance purchased through a dealership is typically more expensive than coverage ...

It covers the rest of your auto loan, so you don't have to worry about paying it off when your vehicle is no ... gap insurance. Plus, it's more convenient to file a claim by keeping your coverage ...

Gap insurance can cover the difference after you pay your deductible. To qualify for this add-on, you typically need to have a full coverage ... had no down payment or your loan term is more ...

Advertising disclosure: When you use our links to explore or buy products we may earn a fee, but that in no way ... comes with more stringent coverage requirements, including gap insurance in ...

Learn more about ... Without gap insurance, you’d be responsible for paying off your car loan even though your car is no longer driveable. Just like any type of insurance coverage, gap insurance ...

you could owe the bank more than what your car is worth. Gap insurance covers this difference. If your vehicle is not financed, there is no reason to purchase gap coverage. If you do finance your ...