What is GAP insurance?

GAP insurance is a line of insurance you can buy to cover the difference between the actual value of your vehicle and the amount you owe on it. So for example, if you owe $15,000 on your auto loan, but the actual value is only $10,000 then your GAP insurer would pay for the $5,000 difference if the vehicle is totaled in an accident.

By Stephen M. Barbas | Posted on December 29, 2011

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$3,500,000 Personal Injury Autoclave explosion resulted in the client suffering from third degree burns over 80% of his body.
$4,500,000 Personal Injury Autoclave explosion resulted in the client suffering from third degree burns over 80% of his body.
$5,500,000 Personal Injury Autoclave explosion resulted in the client suffering from third degree burns over 80% of his body.

$625,000 Medical and Indemnity On behalf of injured worker client, November 2019.

$472,000 Medical-only settlement On behalf of injured worker client, November 2019.

— Workers' Compensation 62-year-old warehouse worker who sustained injuries to lumbar spine.

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What is GAP insurance?

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