Learn how gap insurance protects you financially by covering the difference between your car's value and what you owe in case of total loss. Discover when to buy it.

A car's value can depreciate as much as 20% in its first year. If you're leasing or financing your vehicle, you could quickly find yourself in a situation where the balance on your auto loan is more ...

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 ...

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 ...

About one in five motorists lease rather than own their car, according to data from Cox Automotive. Leasing can mean less money down and lower monthly payments than with a financed vehicle — not to ...

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 ...

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 ...

Gap insurance can pay out if the balance on your car loan is larger than the amount your insurance company will pay if your car is totaled Written By Written by Insurance Staff Writer, WSJ | Buy Side ...