| Protects you from paying on an upside-down loan after your car is totaled | Only useful for a short period of time and can only be purchased for new cars within 30 days |
|---|---|
| If you purchase it through an insurance company, you can cancel GAP insurance at any time | There are several reasons GAP insurance won’t pay off the remainder of a loan |
| Rates vary, but the cost of GAP insurance is usually low | Other coverage options might have better benefits |
