Lilah Butler, Car Insurance Writer
@lilah_c
Yes, Hanover does offer gap insurance, which pays for the difference between a totaled car’s value and the driver’s loan or lease balance, and customers can add this coverage by speaking to their agent. If a Hanover customer does not have a specific agent, they can contact a customer service representative at 1-800-922-8427.
In addition, you have several options if you’re a current Hanover customer and you want to purchase gap insurance elsewhere. You could switch insurers and purchase a policy from another company that offers gap insurance (or loan/lease payoff coverage, which is similar), like Nationwide or Progressive. You could also maintain your policy with Hanover and purchase gap insurance from a dealership or a stand-alone company. However, it’s worth noting that dealership gap insurance is often the most expensive option, since it’s usually rolled into your loan and charged interest.
If you want more information, you can check out WalletHub’s complete guide to gap insurance.
People also ask
How do I know if I have gap insurance?
To find out whether you have gap insurance, check your existing car insurance policy and the terms of your loan or lease. Drivers can get gap insurance through their insurance company as an add-on or separately through their auto lender, so it’s important to look for gap coverage in the list of coverages provided by both.
How To Know If You Have Gap Insurance
1. Check with your car insurance company.
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Yes, full coverage with Shelter Insurance covers damage caused by a blown-out tire. In fact, the standard Shelter auto policy includes roadside assistance, which can help with flat tires, as well as towing, battery service and other issues. The service is available 24/7 and pays for services up to $100 per incident. You can either request help online, or call (855) 817-6510.
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Gap insurance usually takes four to six weeks to pay the policyholder after a claim is filed. For drivers to receive a gap insurance payout, the car must be declared a total loss first, and the insurance company needs to accept the claim.
Insurance companies will generally declare a car a total loss within 30 days of the initial claim being filed. However, more complicated situations take longer to settle.
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