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Auto Insurance – Which Type Is Right For You? If you have comprehensive insurance it will cover also the risks to yourself and your own vehicle. GAP Insurance However, even comprehensive insurance will not fully cover your risks. First of all there is the issue that, as soon as you buy a new car, its price suddenly drops significantly because it is no longer new. It is used. So if you were to destroy your car the day after buying it, the insurance company would likely assess the value as something less than what you paid for it, even though you may still owe a good deal more than that in payments and financing. To cover the chances of this happening, so called GAP insurance was developed. This covers the difference in the actual value of your car, and the amount you still owe in payments. « Previous Page « » Discuss it » Continue Reading »
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