2006-08-09 08:10:45 · 7 answers · asked by mastershake75 1 in Cars & Transportation ➔ Insurance & Registration
I owe less than what the book value of the Jeep is.
2006-08-09 08:36:59 · update #1
If the Jeep is worth more than what you owe then GAP has nothing to cover. Save your money.
2006-08-09 15:10:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
yes you should get the gap insurance because what gap does is; if you have a wreck an your jeep is total an the insurance is only going to pay you book value for your jeep but if you owe more than book value then then you are liable for the difference, an that where gap insurance come in an pays that difference an you don't have to
2006-08-09 15:22:56 · answer #2 · answered by kc 1 · 0⤊ 0⤋
For years I worked as a claims adjuster and whever any car is a total loss, the payoff is frequently more than the settlement. Especially today when $1,000 deductibles are commonplace.
Moral of the story . . . you want gap insurance.
2006-08-09 16:43:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you owe less than what the car is worth then no. I'd double check the numbers before you rule it out. Sometimes cars aren't worth what we believe they are.
2006-08-09 19:30:27 · answer #4 · answered by brandiwine72 3 · 0⤊ 0⤋
It depends on how upside down you are in the car, if you owe less than it is currently worth then no it's not worth it.
2006-08-09 15:28:43 · answer #5 · answered by hulklyjoe 1 · 0⤊ 0⤋
Only if you think you won't be able to pay it off, or if you're planning to sell or trade it before it's paid off.
2006-08-09 15:15:11 · answer #6 · answered by Stuart 7 · 0⤊ 0⤋
I know people who have it and are grateful for it. I've never used it though.
2006-08-09 15:18:28 · answer #7 · answered by elizabeth_ashley44 7 · 0⤊ 0⤋