How Does Gap Insurance Work?

How Does Gap Insurance Work?
In this video you will learn what gap insurance is and why-if you follow our advice-you should never need it.

[SpeedfreakUK]

What about gap insurance for a car you fully own, to protect against the fact that insurance companies basically never pay out what your car is worth, let alone what you paid for it? This might be a difference between the UK and US, but that's the situation I'm in.

[LunaElisaWorld]

what does "until upside down" mean? Until the car loan is paid off? I am just about done paying off thr school loan, and want to pay off the car loan after. Family advises not to because if anything happens to the car after paying it off- my GAP wouldnt be in effect .

[jk]

Why would I pay cash when I could get financing for 2.9%? I'd rather stick that money in a stock market or HYSA and earn more than 2.9%?

[howdydo]

What if gap denies claim due to contract expired b 4 loss? I paid $1200 for gap at dealership. Is gap for one year of loan. Gap doc said expires in 96 months. But denied claim & refuse to pay. I had van for 2.5 yrs & total van. Is gap insurance different from gap addendum?

[thebrain]

Now, I heard your insurance company will write you a check for your car's value, in the event of a Total Loss??🤔🤔

[groovynipple]

My gap is trying to take off for the insurance condition adjustment. It was not due to the condition of my car. It was due to state regulations on the value of my car. This seems to be normal. 🤷🏻‍♀️ Don’t think gap will pay everything left over!!! That’s not true. You’re gonna owe no matter what. And get real about the cash dude. It’s not a dumb decision to finance. It’s called survival. I don’t have cash. I have something called kids and rent and bills and emergencies and health insurance. Stop making people feel dumb for being stuck in a broken system. We’re not all giving unrealistic advice in our little blue jeans jackets. 😂