February 8, 2012 | 
Author If you’re driving along in your sporty, expensive new car on a California freeway and you’re involved in a serious car accident and your vehicle is totaled, you’re in trouble if you just financed the car. Chances are, you owe more than the car is worth. Do you really want to make up the difference,paying for a car you can’t drive? This is where California GAP insurance comes in handy.
Gap insurance protects consumers from financial losses by ensuring that they will b able to pay off their car loan regardless of the amount owed. New loans, where people do not put down a significant down payment, often have people owing more than their car is worth initially. Gap insurance covers that gap.
California GAP insurance helps people who would otherwise be in dire financial straights. Making?? payments for a car that is stolen or wrecked beyond repair in addition to making payment on a car to drive is beyond the reach of most Californians. They would en up broke or with poor credit because they stop the payments for the totaled or stolen car.
Gap insurance can be found either at lenders or insurance companies. Consider it necessary if you owe more on your car than you would receive from your comprehensive insurance policy if the car was stolen or wrecked beyond repair.
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