I am so sorry to hear that your SUV was stolen. You will need to have gap insurance, aka guaranteed asset protection, on your policy for the insurance company to help pay off your SUV. Gap insurance covers the “gap” or the difference between what you owe on the car and what the car is actually worth.
For example, let’s say you get into an accident and your car is totaled. Your insurance will pay actual cash value for your car. Let’s say it is worth $10,000, but you still owe $2,000 to your bank to pay off your loan. If you do not have gap insurance, you will have to pay the bank out of your own pocket.
Gap insurance is optional; you can buy it from the dealership when you obtain the vehicle or you can purchase the coverage through your auto insurance carrier.
To learn more about gap insurance, check out this article: All About Gap Insurance.