the big problem with Gap Insurance !

ksg5000 wrote:

wanderingbob wrote:
If you buy gap insurance on a new RV you are acknowledging right from the purchase that you owe more than it is worth

Just about every vehicle you buy is worth less than what you paid for it as soon as you drive it off the lot. People buy GAP insurance when they don't have the financial resources to run the risk that they can't pay off their RV Loan in the event it's totalled. No shame in that - and it's a choice based on their wallet.

x2. In our case I have never bought gap insurance and have very high deductibles. the savings from that strategy has more than paid for any losses we have incurred. But if the losses would be a big hardship then insurance is a good way to go. But think of insurance as protecting you from losses you can't afford and buy appropriately.