How Gap Insurance Works

*Disclosure:
Maximum Limit of Loss: $50,000

NOTE: The claim settlement may not cover the entire Gap due, when your loan's Original Amount Financed exceeds 120% of MSRP (new vehicle) or NADA Retail Value (used vehicles), plus 30% of Value allowable for Additional Financed Items like Credit Life or Service Contracts. The claim settlement does not cover late charges or other penalties due to your lender.

Your loan amount financed must be less than or equal to $100,000.

Your loan term must not be greater than 84 months.

The maximum APR is 12.5%

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GAP insurance is available in all states except:
CT, LA, NY, VA, WA.

Gapinsurancequotes.com offers Gap insurance for your new or used car, truck or SUV. Gap insurance protects you in the event of your car being totaled or stolen.

Did you know when you drive your new car off the dealer's lot your car has most likely lost 20% of its value? If you put less than a 20% down payment on your car, you're a good candidate for gap insurance. How does gap insurance work? If your car is stolen or declared totaled, your auto insurance company will pay you the actual cash value of the car. The actual cash value can be a lot different from what you still owe on your loan. Without gap insurance your lender will hold you responsible for paying the difference between the actual cash value and the amount left on the loan. This might mean you having to come up with hundreds even thousands of dollars to pay
that debt. Gap insurance will eliminate you having to pay the difference and eliminate the stress of having to come up with that money.

The following is an example of how gap insurance works:

You Purchase a new $20,000 vehicle.
MRSP $20,000.

$20,000.00

Your vehicle is totaled 12 months later.
Your loan balance $17,000

$17,000.00

Your Auto Insurance Company Settlement

$14,000.00

Your Deductible

- $500.00

Your auto insurance company's final settlement

$13,500.00

Gap Insurance Pays

$3,500.00*

Gapinsurancequotes.com is a proud member of the Better Business Bureau

Benefits

Gap coverage on loans up to 84 months
Deductible covered up to $500
A- Rated (A.M. Best) insurance company provides superior security
Gap available on new and used vehicles purchased or refinanced within the past 12 months