Re: Should I keep GAP insurance?
02-08-2013 09:17 AM
The GAP policy I had through insurance (Progressive) was limited to a certain percentage of the vehicle value. Although this would probably cover the shortfall if the vehicle was not totally underwater it may not cover the full loan in all cases. The GAP purchased with the loan will generally cover the remainder of the loan (with a small deductible in some policies) and is not dependent on vehicle value.
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