If your car’s actual cash value is more than the balance of your loan, you no longer need gap insurance because there is no ...

Guaranteed Asset Protection (GAP) insurance is designed to cover this difference. It pays the shortfall between your ...

Gap insurance: Is it needed when buying a new car? There’s nothing quite like the feeling of driving a brand-new car off the lot. The spotless interior, the gleaming paint, the distinctive “new car ...

Scott Nyerges is a former senior editor and content strategist at U.S. News & World Report, where he led coverage of car insurance and other personal insurance lines. He's also served as a managing ...

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate ...

You're driving off the lot in a new car — but the second you do, its value starts to drop. If you get into an accident or your car gets stolen in the first year or two, your auto insurance might not ...

If your vehicle gets totaled or stolen and you owe more on the loan than what your car is worth, gap insurance can help. Several factors will determine if gap insurance is worth it for you, including ...