Gap and Liability

Apr 28, 2019

  1. Cran Berry
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    Cran Berry New Member

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    Will gap still cover the difference if the vehicle only has liability?
     
  2. adjusterjack
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    adjusterjack Guru

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    Depends on the terms and conditions of the GAP policy.

    However, it would appear that the answer is yes for THIS policy:

    Emphasis mine.

    https://www.navyfederal.org/pdf/publications/NFCU_23A.pdf

    I'm guessing that the way it works is if your car's ACV is $5000 and your loan balance is $6000, the GAP insurance would pay $1000 and you'd still be on the hook for the $5000.

    Read your GAP policy to see if it says the same.
     
  3. Cran Berry
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    Cran Berry New Member

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  4. Cran Berry
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    Cran Berry New Member

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    Thank you for replying. I'll have to take a look at the policy, it's just packed away in storage.
     
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