Does Usaa Cover Gap Insurance
Tuesday, November 22, 2022
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Does USAA Cover Gap Insurance?
What is Gap Insurance?
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Who Can Benefit from Gap Insurance?
Gap insurance can be beneficial for anyone who is financing a car, but it is especially helpful for those who have a short loan term or are making a small down payment. If you are leasing a car, gap insurance is also important since you may be responsible for the difference between the value of the car and the amount you still owe on it.
Does USAA Cover Gap Insurance?
What Does USAA Gap Insurance Cover?
USAA's gap insurance coverage will help pay the difference between the actual cash value of your car and the amount still owed on your car loan. This coverage will be up to the actual cash value of your car, which is determined by USAA based on the make, model, condition, and mileage of your car. This coverage is only available for cars that are totaled or stolen.
How Much Does USAA Gap Insurance Cost?
The cost of gap insurance will vary depending on the value of your car, the deductible you choose, and the length of your policy. Generally speaking, gap insurance is relatively inexpensive. USAA typically charges an additional premium of around $20 to $30 per year for gap insurance.
Conclusion
Gap insurance can provide important financial protection for car owners. USAA provides gap insurance as an optional coverage, which can be added to your auto insurance policy. The cost of gap insurance will vary, but it is typically an inexpensive addition to your policy. If you are financing or leasing a car, gap insurance can be a beneficial coverage to have.
