A Comprehensive Guide On How To Add Gap Insurance With Progressive

What Is Gap Insurance?

Gap insurance, also known as guaranteed asset protection insurance, is a type of insurance policy that helps to cover the difference between the amount that you owe on your car loan or lease and the amount that your insurance will pay you if your car is stolen or declared a total loss. Gap insurance is an important form of coverage that many drivers are unaware of and may benefit greatly from. The coverage is particularly helpful if you're financing or leasing a car and the amount you owe is more than the car's actual cash value. Gap insurance can help to protect you from financial losses in the event of an accident or theft.

Who Should Consider Gap Insurance?

Gap insurance is a great option for anyone who is leasing or financing a car and has a loan balance that is higher than the car's actual cash value. In the event of an accident or theft, your regular insurance coverage may not cover the full amount that you owe on the car loan or lease. Gap insurance can help to cover the difference and provide you with financial protection. Additionally, if you have a car loan with a high interest rate, gap insurance can help to reduce the amount that you pay in interest.

How To Add Gap Insurance With Progressive

Adding gap insurance with Progressive is a simple, straightforward process that can be done directly through their website. To add gap insurance to your existing car insurance policy with Progressive, you first need to log into your online account and select the “Add Coverage” option. From there, you will be able to select the “Gap Insurance” option and then enter the required information about your car and loan. After that, you will be able to review and confirm the details of the policy and then submit your request for coverage. Once your request is approved, your gap insurance coverage will be added to your existing policy.

Benefits Of Adding Gap Insurance With Progressive

Gap insurance can provide you with the financial protection you need in the event of an accident or theft. Additionally, when you add gap insurance with Progressive, you will have the added benefit of their excellent customer service and support. Progressive prides itself on providing its customers with comprehensive coverage, competitive rates, and excellent customer service. With Progressive, you can also be sure that your claims will be handled quickly and efficiently.

Conclusion

Gap insurance is an important form of coverage that is often overlooked by drivers. However, if you are leasing or financing a car and the amount you owe is more than the actual cash value of the car, gap insurance can be a great option for providing financial protection in the event of an accident or theft. Adding gap insurance with Progressive is a simple process and can provide you with the peace of mind that you need when it comes to protecting your car and your finances.