Expert Advice for Gap Insurance

All Questions on Gap Insurance

What happens if my financed car is stolen?
My car was stolen and I still owe money on my loan. What can I do?
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Emily Maracle
Jun 22, 2021
Why wasn't I able to add gap insurance to my Jeep Wrangler?
When I purchased my Wrangler a year ago, my dealership said they couldn't add gap insurance because I'm in the military. My friend just bought their car and the dealership allowed them to add gap insurance, even though they're in the military as well. Was I lied to?
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Emily Maracle
May 10, 2021
What happens once gap insurance covers my loan?
My wife and I were in a not-at-fault accident. The other driver's insurance is covering the cost of our vehicle, which is totaled. We do have gap insurance, but I'm wondering what happens after that. Am I responsible for getting a new car?
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Emily Maracle
May 07, 2021
Where can I find gap insurance for my new car in South Dakota?
I declined gap insurance with the dealership, but I owe at least $2,000 more than my car is worth. My current insurance company doesn't offer gap insurance and I don't really want to switch carriers. Is there anywhere that I can get gap insurance only?
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Emily Maracle
May 07, 2021
Do I need gap insurance or replacement cost coverage for my Hyundai Sonata?
I'm buying my first car and my insurance company is including new car replacement coverage. The dealership is also offering me gap insurance. Both would provide coverage for five years, which is the length of the loan. Do I need either of them? What is the difference?
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Emily Maracle
May 07, 2021
Does gap insurance work on a personal loan?
I was offered an unsecured loan to buy my vehicle. I want to get gap insurance with my insurance company, but I'm not sure if I'll be eligible with a personal loan. Should I try to find a different lender or type of loan?
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Emily Maracle
May 07, 2021
How does gap insurance work after receiving a car insurance payout?
I owe $15,000 on my loan. The insurance payout with my new car replacement coverage is $19,000. My insurance said the settlement is being sent to my lienholder to deduct the balance I owe, and the rest will come to me. Shouldn't my gap insurance cover my loan so I get the full settlement value?
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Emily Maracle
May 07, 2021
Do I need gap insurance for my new 2021 Mercedes GLC300?
The purchase price was $49,000 and my loan is for $33,000. I declined gap insurance through the dealership, but do I need it? What would happen if the vehicle was totaled?
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Emily Maracle
May 07, 2021
What does auto replacement protection cover?
I'm buying a new car and looking at auto insurance quotes. I've seen this coverage with various carriers and I'm wondering what it does. Would this cover your loan so you can start fresh if your car is deemed a total loss? Or does it replace your vehicle?
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Emily Maracle
May 07, 2021
How do gap insurance and new car replacement coverage work on my totaled Chevy?
My brand-new Chevy Equinox was just totaled in an accident. I have both gap insurance and new car replacement coverage through my insurance company. How do they work? Which one should I use?
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Emily Maracle
May 07, 2021
How do I qualify for gap insurance on my brand-new Honda?
Are there any qualification requirements I should know about for gap insurance? And how do I apply?
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Shannon Martin
May 06, 2021
What's the difference between gap insurance and loan/lease payoff coverage?
These coverages sound pretty similar to me on the surface. How do they work?
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Shannon Martin
May 06, 2021
Do any other companies offer inexpensive gap insurance for a 2014 BMW 328i?
The dealership where I bought my car wants to charge me $900 for gap insurance. I don't want to pay that much and my insurance company only offers it for new cars. Are there any other options?
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Emily Maracle
May 03, 2021
How does gap insurance work if my brother doesn't have full coverage on his vehicle?
My brother bought a new car last year and got gap insurance through the dealership. He has insurance, but found out after an accident that he doesn't have collision coverage. The other driver was also uninsured. Will his gap insurance cover the damage?
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Emily Maracle
May 03, 2021
What happens if I get into a not-at-fault accident with my Audi and I don't have gap insurance?
I have a financed 2016 Audi A3 and I still owe $22,000 on my loan. My insurance marked it a total loss and I don't have gap insurance. If I do get a check from the other driver's insurance company, does that get turned over to my insurance? How can I pay my loan?
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Emily Maracle
May 03, 2021
Can I keep my car after it's marked a total loss?
My uncle is a mechanic and says he can fix my car for $1,500. It's worth $7,000 right now. I do have gap insurance so my car would be paid off. Can I ask to keep my vehicle?
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Emily Maracle
May 03, 2021
Does gap insurance cover a vehicle that has liability insurance only?
My husband's 2019 Dodge Journey is totaled and he only has liability insurance. He still owes $20,000 on his loan. His car is worth around $16,000. He does have gap insurance, but will they pay the difference if he had liability only and not full coverage?
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Emily Maracle
May 03, 2021
Where can I buy gap insurance in West Virginia?
I'm planning on refinancing my car and my gap insurance will be canceled. Are there any companies that offer gap insurance in West Virginia? My insurance company doesn't offer it since my vehicle isn't brand new.
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Emily Maracle
May 03, 2021
What insurance companies in Wisconsin will offer me gap insurance?
I left the dealership without getting gap insurance on my new car. They can't add it on now and GEICO doesn't offer it. What insurance companies in Wisconsin offer gap insurance?
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Emily Maracle
May 03, 2021
What should I do if I get into an accident with a leased Toyota Sienna?
I am leasing a Toyota Sienna and it was hit in a parking lot. My insurance carrier is MetLife and I also have gap insurance. Who should I contact?
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Emily Maracle
May 03, 2021
Why can't people in the military add gap insurance at the dealership?
I live in Kansas and when I purchased my vehicle, I was told that I couldn't add gap insurance because I was in the military. Is this true? Is there any way I can add it on now?
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Emily Maracle
May 03, 2021
Can I add gap insurance for my Chrysler Pacifica after declining it at the dealership?
I bought a Chrysler Pacifica and declined gap coverage at the dealership. I can't add it on with the dealership or my finance company now. Is there any way for me to get coverage?
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Emily Maracle
May 03, 2021
Could my gap insurance claim be rejected, and if so, why?
I have loan/lease coverage and gap insurance on my car. My insurance company is denying my loan/lease coverage claim. I'm worried that my gap insurance claim with another company will also be denied. Is there a reason why it could be? I still owe $2,000 on my loan.
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Emily Maracle
May 03, 2021
What other types of coverage should I get if I am going to be leasing a car?
I know I need full coverage, but is there any extra coverage I should add at the dealership or with my insurance company?
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Emily Maracle
May 03, 2021
Can gap insurance cover someone with a learner's permit in Illinois?
We are buying my son a new car and he only has his learner's permit. If we add him to our policy, will he be covered for gap insurance as well?
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Emily Maracle
May 03, 2021
Does a new 2020 Toyota Corolla need gap insurance?
My sales rep at the dealership said that I got a really good deal and didn't need to buy gap insurance. Is this true? Should I assume that the value of my Corolla isn't going to depreciate below what I owe on my loan?
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Emily Maracle
May 03, 2021
Who has a right to extra payments that an auto insurance company makes?
My sister's vehicle was totaled. She owes $14,000 on her loan and her vehicle is worth $12,700. She put in a claim for gap insurance and they said she had negative gap due to refunds that the dealership owes ($2,000). Is she entitled to the extra $700? Shouldn't it go to my sister instead of the bank?
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Emily Maracle
May 03, 2021
Do I need gap insurance for a new 2020 Nissan Maxima?
I didn't need to put any money down at signing and my loan term is for 72 months. I'm being offered an affordable price for gap insurance. Do I need to add it?
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Emily Maracle
May 03, 2021
How do I find out if I have gap insurance?
"I owe $2,000 on my loan after a car accident. Though I bought gap insurance, the insurer says they have no record of my coverage. My lender said they can refund me what I had paid for the gap insurance ($850), but I still have to pay for the rest of my loan out of pocket. What can I do? "
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Emily Maracle
May 03, 2021
Does my boyfriend need gap insurance on his leased Subaru?
My boyfriend is going to be leasing a new Subaru and isn't sure if gap insurance is going to be required. Is it added automatically or does he need to find a company that will offer it?
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Emily Maracle
May 03, 2021

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