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Does Fred Loya offer gap insurance?
I’m about to purchase a new vehicle, but my lender requires me to add gap insurance to my insurance policy to finance it. Does Fred Loya offer gap insurance?
Mariza Morin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Generally, lenders require gap insurance, also known as Guaranteed Asset Protection, to cover the difference between the
actual cash value
of a new vehicle and what you still owe on your car loan
or lease in the event of a total loss. Fred Loya only offers the following insurance coverages:
If you’re looking for gap insurance, there are plenty of top insurance providers out there that offer this vital coverage, including
Travelers
, Nationwide
, Progressive
, and more!View full answer
- Gregory R.
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