Does GAP insurance give you money for a new car?

GAP insurance does not give you money for a new car. GAP car insurance covers the remaining amount you owe on your car loan or lease agreement after your vehicle is totaled in an accident. Drivers who are financing or leasing a vehicle will benefit from GAP auto insurance. Get free quotes for GAP insurance below with our free comparison tool.

UPDATED: Jan 27, 2025Fact Checked

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Does GAP insurance give you money for a new car?

[su_box title="Things to know..." style="default"] GAP, also known as Guaranteed Auto Protection, is a supplemental type of insurance that is available to borrowers Individuals who are financing or leasing vehicles may need GAP because their insurance may not pay off the contract Carriers only have to pay up to a car's Actual Cash Value when your car is totaled. GAP insurance pays the d...

Tracey L. Wells

Licensed Insurance Agent & Agency Owner

Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...

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UPDATED: Jan 27, 2025

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UPDATED: Jan 27, 2025

Advertiser Disclosure

It’s all about you. We want to help you make the right cheap car insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare cheap car insurance quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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