Gap Insurance Coverage in Connecticut
Reader’s Question:
I have gap insurance in Fairfield, CT I wanted to know if my car continues to give me problems and return it back to the dealer to trade for a different vehicle would this be covered under the gap insurance?
Henry
Fairfield, CT
The answer is No.
Gap insurance is a type of car insurance coverage that pays the difference between your insurance settlement (from a covered loss) and your loan balance. If your primary insurance company is not paying out a settlement for a covered loss such as the vehicle being declared a total loss because of an accident then your GAP insurance will not pay out either.
If you are upside down on your car and want to trade it in, your gap insurance coverage would not be able to be used in this situation.
Loading ...