Learn how gap insurance protects you financially by covering the difference between your car's value and what you owe in case of total loss. Discover when to buy it.

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate ...

Scott Nyerges is a former senior editor and content strategist at U.S. News & World Report, where he led coverage of car insurance and other personal insurance lines. He's also served as a managing ...

The moment you drive your new vehicle off the dealership lot, it goes down in value — a trend that continues over the life of the car. This can present a difficult situation in the event your vehicle ...

When purchasing a car with a loan in North Carolina, it may be wise to consider gap insurance. This type of insurance, sometimes called guaranteed asset protection, is designed to help when a vehicle ...

Insurance companies pay the depreciated value of your car if it’s totaled or stolen, which might be less than your car loan balance. Gap insurance can cover the difference between the vehicle’s value ...