Loan/Lease gap coverage can cover the difference between the current value of your vehicle and what is owed on it when your vehicle is totaled. Some people refer that to as being upside down in your loan or lease. The moment you drive your vehicle off the lot it depreciates in value so you may want to consider gap insurance if any of the following apply:
- You made less than a 20 percent down payment on your vehicle.
- If your auto loan is 60 months or longer.
- If you’re leasing a vehicle, check to see if the leasing company includes it, if not coverage through us is very affordable.