Cost & Value: How Much Is Gap Insurance Per Month on Average?
Reading Time: 2 minutesHow Much Is GAP Insurance Per Month? Overview Understanding the monthly cost of GAP insurance helps you weigh peace of mind against budget. Whether purchased through an insurer, dealership, or membership organization, prices can range from a few dollars a month to hundreds total. Let’s break it down. 1. Monthly Cost Estimates from Insurers Typical […]
Cost & Value: Is Gap Insurance Worth It for New and Used Cars?
Reading Time: 4 minutesIs Gap Insurance Worth It for New and Used Cars? Overview Gap insurance isn’t just another optional add-on—it’s a strategic safeguard specifically designed to protect drivers from a financially perilous moment: when the value of their car crashes faster than their loan balance. By bridging the difference between what your insurer pays and what you […]
Coverage & Exclusions: Gap Insurance on a Totaled Car
Reading Time: 2 minutesHow Does GAP Insurance Work on a Totaled Car? Overview When your car is declared a total loss (i.e., repair costs exceed its value), your standard auto insurance pays the vehicle’s Actual Cash Value (ACV). However, if your loan or lease balance surpasses that ACV, you could be left paying the difference—unless you have GAP […]