McKayla Girardin, Car Insurance Writer
Yes, Chevrolet does have gap insurance. Chevrolet gap insurance can help pay the difference between what you owe on your loan or lease and your vehicle’s actual cash value (ACV) if your car is deemed a total loss.
Key Things to Know About Chevrolet Gap Insurance
- Chevrolet gap insurance covers up to $125,000 after a covered loss.
- Chevrolet gap insurance coverage extends for up to 84 months.
- Your insurance deductible may be covered by Chevrolet's gap insurance in certain states.
- Chevrolet gap insurance coverage is only available at the time of vehicle purchase.
Other Ways to Get Gap Insurance
When you’re purchasing or leasing a new car, the dealership or lender may offer to add gap insurance to your loan or lease. This may be a good choice if your existing insurance company doesn’t offer gap insurance, but remember that if the cost is added to your loan or lease, you will pay interest on that charge.
Many car insurance companies also offer gap insurance as an optional add-on to your existing car insurance policy. Purchasing gap insurance through your insurer is usually the cheapest option.
To learn more, check out WalletHub’s guide to gap insurance.
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