Gap insurance only paid half of the loan?

by Judy
(Avondale,Arizona USA)

Had my truck stolen and my insurance payed their portion,Gap was suppose to cover the remaining $5.000,they ended up paying only half because I had a death in the family and the auto finance company gave me 2 month deferment/extension,does Gap has to cover that?

Answer:

Hello Judy,

Um? Gap insurance covers the portion of the loan not paid by the total loss settlement. Gap covers the entire amount, not half - at least, we never seen a policy do that.

Also, we see no relevance regarding the death of a family member and the policy provision.

Talk to the GAP carrier and see what they say, if they are giving you the run around, please contact a lawyer.

Good Luck,
Auto Insurance Claim Advice