Do I Have Gap Insurance Progressive
Do I Have Gap Insurance Progressive?
If you’re looking to protect yourself financially against the cost of replacing a totaled or stolen car, gap insurance can be a great option. Gap insurance, or Guaranteed Auto Protection, is an insurance policy that pays the difference between the actual cash value of the car at the time of a total loss and the amount the consumer still owes on the car loan. It helps bridge the gap between the actual cash value and the total loan amount, thus protecting you from a potential financial loss. But do you have gap insurance through Progressive?
Does Progressive Offer Gap Insurance?
The answer to this question is no. Progressive does not offer gap insurance as a separate policy. They do, however, include gap coverage in their “Total Loss Protection” package. This package is an add-on to their standard auto insurance and provides coverage up to $50,000 over the actual cash value of the car in the case of a total loss.
What Does Total Loss Protection Cover?
Total Loss Protection covers more than just gap insurance. It also provides coverage for the actual cash value of the car up to $50,000 if the car is totaled in an accident, stolen, or vandalized. It also covers towing, rental car reimbursement, and lost key/lockout services. If you have a loan or lease on the car, Total Loss Protection will cover up to $50,000 of the remaining balance.
Should I Get Total Loss Protection?
If you have a loan or lease on your car, it may be a good idea to consider getting Total Loss Protection. It can help protect you financially in the event of a total loss of the car. Additionally, it can provide peace of mind knowing that you have coverage in the event of a theft or vandalism. It’s important to note that Total Loss Protection does not cover damage from natural disasters, such as floods or earthquakes.
How Do I Get Total Loss Protection?
If you’re interested in getting Total Loss Protection, you can contact your Progressive agent or you can purchase it online. Total Loss Protection is available to customers in most states. It’s important to note that Total Loss Protection is only available if you have a full-coverage auto insurance policy with Progressive. The cost of the coverage depends on the value of the car, so it’s best to contact your agent for a quote.
Conclusion
Gap insurance can be a great way to protect yourself financially against the cost of replacing a totaled or stolen car. While Progressive does not offer gap insurance as a separate policy, they do offer it as part of their Total Loss Protection package. This package provides coverage up to $50,000 over the actual cash value of the car in the case of a total loss. If you have a loan or lease on your car, it may be a good idea to consider getting Total Loss Protection.
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