Gap insurance can pay out if the balance on your car loan is larger than the amount your insurance company will pay if your car is totaled Written By Written by Insurance Staff Writer, WSJ | Buy Side ...

Gap insurance, also known as Guaranteed Asset Protection, is a specialized insurance product designed to cover the difference between the outstanding loan balance on a vehicle and its current market ...

Gap insurance acts as a financial safety net for drivers who finance or lease a vehicle, covering the difference between the car’s actual cash value and the remaining loan or lease balance if the car ...