PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Does gap insurance from a car insurance company cover negative equity?
I want to reject my lender's gap insurance based on the cost. Will my gap insurance from my car insurance company cover negative equity?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“
Gap insurance
covers negative equity if you’re in accident where you’re at fault. If your vehicle is totaled and you have gap insurance, it would cover the difference between what you owe on your loan and the value of your vehicle.A gap insurance policy from a
car insurance
company will typically cover the same amount as a lender’s gap insurance. However, every company is different. Some carriers may pay a specific amount or percentage of coverage when your vehicle is totaled as opposed to the total remainder of the loan balance.Before you reject your lender’s gap insurance, you’ll want to shop around and compare coverage. Use the
Jerry
app to compare coverage from top insurers to find the best rate.”View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies