Insurance companies pay the depreciated value of your car if it’s totaled or stolen, which might be less than your car loan balance. Gap insurance can cover the difference between the vehicle’s value ...

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 ...

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate ...

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 ...

If your vehicle gets totaled or stolen and you owe more on the loan than what your car is worth, gap insurance can help. Several factors will determine if gap insurance is worth it for you, including ...

Gap insurance is optional car insurance endorsement that covers the “gap” between the amount owed on a vehicle and its actual cash value (ACV) in the event it is totaled, stolen or rendered a total ...