Gap Car Insurance

If you have a loan or a lease on your car car  insurance can give you valuable production during the first years of your car’s life. If a loss occurs, gap car insurance will pay the remainder between the current cash value of the vehicle and the current owing balance on your loan or lease. Gap car Insurance protects your vehicle lease or loan. In some cases, it will also pay your regular insurance deductible.

If your vehicle has been written off in an accident, theft, fire, flood, natural disaster or vandalism your insurance company generally pays the current cash value. That may be less than its actual retail value. It is often substantially less than the actual amount you still owe on your loan or the money due for a lease payoff.

The term gap comes from the amount between your insurance deductible and the loss from the accident or vandalism. If you have ‘gap’ insurance then the gap amount is covered.

Most of our car insurance providers can provide a quote for gap insurance. Simply fill out a short form and you will be able to compare gap car insurance quotes instantly on your screen in minutes.