As it pertains to cars, gap insurance covers the difference between what you owe on your car loan and the actual cash value of your car if it’s totaled in a crash. That “gap” can amount to quite a bit ...

Gap insurance acts as a financial safety net for drivers who finance or lease a vehicle, covering the difference between the car’s actual cash value and the remaining loan or lease balance if the car ...

Scott Nyerges is a former senior editor and content strategist at U.S. News & World Report, where he led coverage of car insurance and other personal insurance lines. He's also served as a managing ...

Gap health insurance helps pay for costs not covered by your main health insurance plan. Find Cheap Health Insurance in Your Area Gap insurance is supplemental medical coverage that's usually used to ...

If you owe more than the car is worth and your full coverage car insurance policy pays out the vehicle’s actual cash value after an accident, you may be stuck with an outstanding debt. But if you ...

Gap insurance covers the difference between your car loan balance and what your car insurance company pays if your vehicle is totaled or stolen. If your vehicle is paid in full, you don’t need gap ...

As soon as you drive a new car off the showroom forecourt, it is no longer new, and its value drops significantly. Say you have an accident on the way home and the vehicle is written-off, or it is ...

You’re driving off the lot in a new car — but the second you do, its value starts to drop. If you get into an accident or your car gets stolen in the first year or two, your auto insurance might not ...

Cheap Insurance reports that gap insurance can be essential for new car buyers to cover the financial gap between owed loan and actual cash value after a total loss, especially in cases of low down ...

When you first got your car, it made sense to get gap insurance. Suppose you've owned the automobile for five years and three months without any significant problems and get a renewal notice, where, ...

Gap insurance is specifically designed for drivers with outstanding loan balances on their vehicles. It is typically only available for brand-new vehicles or for models that are less than three years ...