Should You Buy Gap Insurance May 2026

: You bought a luxury vehicle or a model known for losing value quickly.

: You drive significantly more than average, which accelerates the car's loss of value. When You Can Skip It You likely do not need gap insurance if: Should You Buy Gap Insurance for Your New Car?

: You rolled debt from a previous vehicle into your new car loan. should you buy gap insurance

: If your car is stolen or totaled, standard comprehensive insurance only pays the current market value.

: Gap insurance pays the remaining debt to your lender so you aren't stuck paying for a car you no longer own. When You Should Buy It : You bought a luxury vehicle or a

: You put down less than 20% of the car's price.

Guaranteed Asset Protection (GAP) insurance covers the "gap" between your car's and your outstanding loan or lease balance . : You rolled debt from a previous vehicle

Consider gap insurance if any of the following apply to your financing or vehicle choice: