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Are there instances when gap insurance won't pay out?
I want to add gap insurance to my car insurance policy, but I'm not sure what all it covers. Are there any times when gap insurance wouldn't pay out?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Gap insurance will only pay out if you total your car and there’s a difference between the actual cash value (ACV) of the car and the
remaining loan balance
.- the car breaks down from wear and tear
- the car can still be reasonably repaired
- you fail to make monthly payments on your gap insurance”
View full answer
- Gregory R.
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