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Does Shelter offer gap insurance?
I’m looking to get a new car, but I’ve heard horror stories from co-workers about what happens if you're in an accident and don’t have gap insurance. Does Shelter offer gap insurance?
Natalie Todoroff · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Shelter
gap insurance
is available for purchase as a policy add-on. Shelter’s gap insurance policy will help cover the difference between your vehicle’s actual cash value
and the amount remaining on your loan or lease. And, knowing that your car loses 9% to 10% of its value the moment you drive it off the lot, gap insurance can come in handy. But, keep in mind that gap insurance—like many other types of coverages—is still subject to a deductible. Exactly what you pay for your gap insurance from Shelter will change based on your age, driving record, and the state you live in. And, with Shelter, you can cancel your gpa insurance coverage once the tables turn and your car is now worth more than the amount you owe.
Armed with this info, we hope you can finance the car of your dreams!
View full answer
- Gregory R.
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