Does Progressive Insurance Offer Gap Insurance?

Gap insurance is an important form of coverage that can help protect you financially if your car is stolen or totaled in an accident. Gap insurance pays the difference between what you owe on your car and what it is worth. Many drivers choose to have gap insurance in place to ensure that they won’t be stuck with a large bill if their car is totaled. So, does Progressive Insurance offer gap insurance?

The answer is yes. Progressive Insurance offers gap insurance, but it is not available in all states. In states where gap insurance is available, it is typically an optional coverage that can be added to a car insurance policy for an additional fee. Progressive Insurance also offers a few different types of gap insurance, including return to invoice gap coverage, which pays the difference between what you owe on the car and what it was worth when you bought it.

What Does Progressive Insurance Gap Insurance Cover?

Gap insurance from Progressive Insurance typically covers the difference between what you owe on the car and what it is worth at the time of an accident or theft. This coverage can be helpful if you owe more on the car than it is worth, since you may be stuck with a large bill if you’re unable to pay off the loan. Gap insurance can help you avoid this situation.

What Does Progressive Insurance Gap Insurance Not Cover?

While gap insurance can be a helpful form of coverage, there are a few things that it does not cover. Gap insurance does not cover the cost of repairs or the cost of a rental car if your car is stolen or totaled in an accident. It also does not cover the value of any after-market items that were added to the car after purchase, such as a navigation system or upgraded stereo. Additionally, gap insurance does not cover the cost of any additional loans that you may have taken out against the car, such as a refinancing loan.

Is Progressive Insurance Gap Insurance Worth It?

Gap insurance can be a good option for drivers who owe more on their car than it is currently worth. It can help protect you from owing thousands of dollars if your car is stolen or totaled in an accident. However, it is important to consider the cost of gap insurance and compare it to the amount that you owe on the car. If you owe a relatively small amount compared to the cost of gap insurance, it may not be worth the expense.

Gap insurance from Progressive Insurance is available in certain states and can be a helpful form of coverage for drivers who owe more on their car than it is currently worth. It is important to consider the cost of gap insurance and make sure that it is worth the expense before purchasing it. Gap insurance can help protect you from being stuck with a large bill if your car is stolen or totaled, but it does not cover the cost of repairs, rental cars, or after-market items that may have been added to the car after purchase.