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.

What does Gap insurance cover you for? Gap insurance protects you when you buy a new car. It's designed to cover the difference between the amount your car insurer would pay out if your car was stolen ...

When buying a new car, there will probably be a number of optional extras offered to you by the salesperson. One such add-on will be GAP (Guaranteed Asset Protection) insurance, but what is GAP ...

Update: Article was updated to clarify purchase of used Tesla. In June 2024, Drea purchased a secondhand Tesla for her birthday, thrilled to own a prized electric car. However, she soon discovered a ...

Dean is an award winning personal finance writer who's spent over 15 years helping consumers navigate the tangled and fascinating world of insurance. Gap insurance protects you when you buy a new car.

Have you ever had a car written off as a result of an accident, fire or flood damage or theft? It’s a nasty experience – but losing the use of your car is only the first shock. The next one will be ...