Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper Gap Insurance
440 messages, Last post on Sep 24, 2009 at 1:20 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
|
|
|---|---|
|
I just purchased at 2007 Toyota Rav4. The very next day I backed it into a pole. I know you are thinking, "What an idiot," but I am used to driving a stick shift and used the break as the clutch and the gas as the brake and backed up hard into a big cement pole. My back window shattered and there is a lot of rear damage, but it is still drivable. Being that I just bought this car the day before, I am a bit strapped for cash, but I do need to get it fixed because my window is missing. My question is, does gap only cover total losses, or does it also cover the deductible that I would be paying to get my vehicle repaired. I heard that it does cover that. And then it also covers up to $50 a day in rental car expenses also, right? This is my first new car and the first accident I have had in over 10 years, so I am not really sure how to go about getting everything taken care of. HELP! Alisha
|
|
|
Replying to: alishaelovern (Aug 20, 2007 5:29 am) You have to report this to your insurance company. You'll have to pay your deductible. Your insurance company will only pay for rental car reimbursment if you paid extra for that coverage. Unless you have some special sort of GAP coverage? GAP insurance is designed to cover the difference between the insurance value of your car and your loan balance, if your car is totaled in an accident. regards, kyfdx visiting host |
|
|
if your car is totalled for any reason, whether damaged, burned or stolen... I do not know if fraud is an acceptable reason.. 
|
|
|
Hi Goood afternoon. I just needed to find out about GAP Insurance. Can anyone tell me if this is true or not? On a site that I saw it said that GAP Insurance not only covers what your insurance doesnt cover but gives you up to a couple of thousand dollars for a new car. HMMM that sounds too funny for me. I do need Gap Insurance buy my insurance company does not cover it and I dont know how or where to start. Any suggestions would be so helpful Thanks Nan
|
|
| I never heard of GAP giving you any extra money, but for a basic understanding, go back about 50-75 posts, read what was asked and answered, and then come back with any unanswered questions... | |
|
Replying to: nkmonty1 (Aug 29, 2007 9:05 am) |
|
|
Its funny I am having a hard time trying to get Gap Insurance with extended auto warranty at the same time. I didnt want to buy from two different companies. Any suggestions.? Nan |
|
|
joel: thanks for that info, I never would have thought that could happen... nk: The extended warr is usually either from the carmaker (like Ford ESP Warranty) or an independent company...those companies may not offer GAP as it is a different kind of insurance... kinda like Prudential may offer car and home ins, but not motorcycle ins... |
|
My husband leased a vehicle about 4 months ago and since then is diagnosed with terminal cancer. Will gap insurance pay for the vehicle (the contract is in his name alone) when he passes? I don't believe he purchased the gap ins.,and if not, can we still buy it? Thank you for any advise.
|
|
|
Replying to: dsoret (Sep 03, 2007 12:47 pm) Gap will not pay for the vehichle in this situation. Here is Fords program for situations such as this. I would be suprised if all manufactures don't have a similar program. This is not a warranty or insurance you would have had to buy. It is at no additional charge and applies to all Ford Leases or Loans. Peace of Mind lets you lease a new vehicle through Ford Credit without concern about leaving your family to deal with unwanted obligations. In the event of the lessee's death before the lease terms are satisfied, Peace of Mind allows the return of the vehicle to Ford Credit. Any surplus derived form the wholesale sale of the vehicle will be refunded to the co-lessee of the estate. If you pass away before your lease obligation is fulfilled, your eligible co-buyer, co-lessee, estate or spouse may receive Peace of Mind benefits. Peace of Mind is available at no extra charge to customers who are at least 62 years of age when they lease a new vehicle through Ford Credit. To be eligible for Peace of Mind, co-buyers and co-lessees must also be age 62 or older. The spouse of a qualified customer is not required to have reached 62 years of age. |
|
You are here:
Forums
Smart Shopper Gap Insurance
