I purchased GAP Insurance in VA but GAP insurance isn't covered in VA??? Am I Covered???

Question

I bought a car about 2 years ago and I purchased GAP insurance. My friends and I were discussing GAP insurance and they told me that GAP insurance is unavailable in VA. I purchased my car and GAP Insurance in VA and it is registered in VA so how is it not available in VA??? Does this mean if my car is wrecked or stolen my GAP Insurance doesn't cover it since I'm in VA???

Answer 1

don't know about virginia but in ny if gap isn't offered the lender is liable for any loss, not the vehicle owner.

this is the law here.

i'd question the place you bought the car. if gap isn't applicable then why would they sell it? seems like bad business to me!

i'd also take what your friends say with a grain of salt...they may be right but they may be wrong, ya know?

Answer 2

GAP insurance covers any balance owed on vehicle if it is totaled and insurance doesn't pay the amount owed. Do not listen to what everyone says---talk to your agent or look it up on-line. My ex husband once bought a pick-up and went along with the extra cost of a bumper cause the salesman said it was illegal to not have one. Turns out, you didn't have to have one in the state he lived in and bought it in..........so--just research it!

Answer 3

It Sounds like you are really screwed up by this problem. Hope you could get good luck here.http://car-insurance.easyideas4u.info/ca...

Answer 4

When you bought your car did they give the info & paperwork on the GAP coverage?  If so, then your covered whether it was an error or not.

I have never heard of certain states not offering GAP insurance, do your friends know what their talking about?

Answer 5

Your friends are giving you bad inforamtion and advice. You are covered, but you could call your GAP insurance company just to make sure.

Also, do you still need GAP? After 2 years, are you still upside down on your loan?  If not, you can cancel the insurance and get a partial refund, maybe, depending on how your insurance comapny works.