Quick Answer: What Happens When You Don’t Have Gap Insurance?

Quick Answer: What Happens When You Don't Have Gap Insurance?

If you have a total loss of your vehicle, the insurance company will only pay the actual cash value (ACV) of the car at the time of loss.

Gap insurance protects you from having to pay out of pocket for the gap between the actual cash value of the car and the amount you owe to the leasing company or lender.

Photo in the article by “ARCHIVE OF THE OFFICIAL SITE OF THE 2008-2012 PRIME MINISTER OF THE …” http://archive.premier.gov.ru/eng/events/news/18886/