Enough to purchase the same vehicle new which is unlikely but the request would be handled by the claim.

Does gap insurance provide rental car. GAP insurance or guaranteed asset protection insurance to give it its full name is designed to protect you when you lease or buy a new car. The replacement vehicle would be the same as yours when you first bought it. Come learn about the purpose of gap insurance who needs it and why and how much it will cost.

The negligent drivers insurance company is responsible for paying your car rental while your vehicle is. While you need gap insurance if you owe more on a vehicle than its value gap coverage isnt required by any state as part of your car insurance policy. Gap insurance is designed to protect you and your lender if your car is totaled.

Gap insurance is not a necessity its optional. Dealerships primarily offer gap insurance for new cars but you might also get a pitch for it if the car youre buying is less than 3 years old especially if it is luxury car. Since youre renting a vehicle youll need additional car insurance on the rental car.

You can ask your car dealer how much gap insurance costs. If you want to avoid paying the actual cash value of damages out of pocket you need gap insurance to fully protect yourself. If youre upside down on your car loan it could be a good idea to buy gap insurance coverage.

So instead of continuing to make payments on a car thats in the junkyard GAP insurance swoops in and wipes the slate clean. Loan or lease payoff will pay you the difference between the value of the totaled car and what you still owe on your car loan or lease. If a totaled car is in the shop gap insurance will not cover a rental cars cost.

In short it covers the gap between what your car insurer pays and the actual value of your car in the event of a write off. It can cover you between the comprehensive car insurance settlement and the cost of the replacement vehicle. Gap insurance coverage is optional coverage.