Buying or leasing a car? Gap car insurance from Nationwide may be a good option
If you're in the market for a brand new or leased vehicle, you may need to consider if buying GAP car insurance coverage is right for you. GAP car insurance coverage from Nationwide has prices that will depend on your state. Nationwide insurance is known for offering great customer service while saving clients money, so it might be worth your time looking into.
Do you need GAP coverage?
Guaranteed Auto Protection or Guaranteed Asset Protection insurance policies are referred to by the acronym GAP. Why would you need GAP car insurance coverage? When you buy your car and drive it off off the lot, your 
regular car insurance may not offer you full protection. If you have a stroke of bad luck that leads to a big accident or your vehicle is stolen, you'll be responsible for paying back your car lender and a standard coverage package from your insurance provider may not be enough. This is because regular car insurance only pays for the current cash value of the car, not the total loan balance. Not having GAP car insurance can literally cost you thousands of dollars.
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Let's say you have a car that was priced at $25,000 when new and you currently owe $20,000 on your car loan. If your car is totalled, the actual cash value of your vehicle may just be $15,000. Your insurance will offer you the settlement check, but you are still responsible for paying the balance of $10,000 on your loan payment. GAP car insurance will help you with these costs, while regular car insurance won't. Nationwide car insurance GAP coverage would be invaluable in a case like this.
Is it required?
GAP auto insurance is an optional insurance policy for most people that buy used vehicles. If you've financed your car, the lender may require you to purchase GAP car insurance in addition to the required collision and comprehensive coverage that most lenders demand before you drive off the lot.
If you're leasing a vehicle, your comprehensive insurance coverage probably already has a form of GAP insurance included. It is important to check your policy as well as the terms and conditions of any lease you enter into to be sure.
Costs
Your driving record and state location are factors in determining GAP car insurance prices from Nationwide. 
When you purchase a new car or enter into a lease, you may be offered GAP coverage through the finance company or leasing agency. They may suggest that the cost will be "minimal" and merely added to your monthly loan or lease payment.
While this may seem like a convenience, you will probably pay more for less. In rare cases will there be the level of service you can expect when you add GAP car insurance to an existing policy and work with an experienced insurance agent
Reply! can help you find an experienced insurance agent in your area who can help you determine if GAP car insurance is a good or necessary addition to a full package of car insurance coverage.