Skip the auto shop - Our mechanics make house calls

Q: Do I need gap insurance?

asked by on

I have Gap insurance. I bought my 2015 Kia Optima vehicle 9/15/14 on my birthday as a gift to myself. At that time it was told to me that it was necessary in case I ever got into an accident, my vehicle was totalled & I would receive full payment for my vehicle. Is that true & do I need to have Gap insurance? Please advise. Thanks!

Gap insurance is designed to cover the difference between what is owed on the vehicle (your car loan) and what the insurance company may pay out in the event of an accident or loss. Any example might be a situation in which the balance owed on the car is $25,000, but the Kelly Blue Book value might only be $21,000 at the time of the accident or loss. This difference of $4,000 would be covered by your GAP insurance. Gap insurance is not necessarily required by law, however most banks or lending institutions will require it in order to fund the loan on the vehicle. As with any insurance, it is a smart choice to have gap insurance. If, for whatever reason, you feel you do not need this type of insurance, you can always cancel the policy.

Was this answer helpful?

Need advice from certified mechanic? Get help now!

Over 1000 mechanics are ready to answer your question.
The statements expressed above are only for informational purposes and should be independently verified. Please see our terms of service for more details

Get an instant quote for your car

Our certified mechanics come to you ・Backed by 12-month, 12,000-mile guarantee・Fair and transparent pricing

Get a quote

What others are asking

Q: When I went to change the timing belt there were 25 teeth were missing but it didn't jump time - how is this possible?

Not all the teeth need to be present in order for the pulleys to turn. However, the only way to tell if the cam and crankshaft were really in the right position relative to one another is to line them...

Q: Hit a car and want to know the best way to go about this persons repair.

This would all depend on the extent of the damage caused by the accident. If the paint damages on a very large surface it would probably be best to go through the insurance company to make sure it gets repaired...

Q: How much is a tune up?

Hi there. First off, thanks for being proactive about your Kia's maintenance; that's very well received by a professional mechanic. Second, when your car hits 100,000 miles, there are a few items that should be completed; however, Kia recommends service...

Related articles

P0052 OBD-II Trouble Code: HO2S Heater Control Circuit High (Bank 2 Sensor 1)
P0052 code definition HO2S Heater Control Circuit High (Bank 2 Sensor 1) What the...
How to Avoid Back Pain in a Car
If you have back problems, sitting in a car for an extended period of time can be excruciating. Even without back problems, you could experience discomfort and soreness from...
What are the Car Pool Rules in Hawaii?
Hawaii is widely regarded as a land of vacation and relaxation, and as such, its scenic roads and routes are far better known than the state’s freeways. But, as with all...