the big problem with Gap Insurance !
If you buy gap insurance on a new RV you are acknowledging right from the purchase that you owe more than it is worth ! Why would you buy and finance something that has less worth the instant that yo...
Forum Discussion
GAP insurance...wouldn't be without it. My experience with not having it.
We owned a Dodge Intrepid. Wife was hit by a woman who was caboosing through a light (Wife had the right of way). Insurance totaled the car.
Their insurance called and said, "The check for your car, $13,000 and change, will be ready for you to pick up tomorrow morning"
Tomorrow morning, their insurance called, "Oh, yeah, we just realized she had the minimum coverage, all you are getting is $10,000. Sorry about that."
Luckily, our insurance said to take the $10,000 and they would cover the $3,000+...They would then go after the woman who hit us in court for the difference.
That could have turned out very differently with us having to find the $3,000 difference. When we bought our 2017 Dodge Ram, we got GAP insurance. As long as the minimum insurance coverage required is generally 1/3 to 1/4 of the amount needed to pay off a totaled vehicle, it is worth it in my opinion.
Of Course, Your mileage may vary...
We owned a Dodge Intrepid. Wife was hit by a woman who was caboosing through a light (Wife had the right of way). Insurance totaled the car.
Their insurance called and said, "The check for your car, $13,000 and change, will be ready for you to pick up tomorrow morning"
Tomorrow morning, their insurance called, "Oh, yeah, we just realized she had the minimum coverage, all you are getting is $10,000. Sorry about that."
Luckily, our insurance said to take the $10,000 and they would cover the $3,000+...They would then go after the woman who hit us in court for the difference.
That could have turned out very differently with us having to find the $3,000 difference. When we bought our 2017 Dodge Ram, we got GAP insurance. As long as the minimum insurance coverage required is generally 1/3 to 1/4 of the amount needed to pay off a totaled vehicle, it is worth it in my opinion.
Of Course, Your mileage may vary...
