Let's do some simple math shall we;
You bought your current car for $23,674.33.
Your car was just stolen or totaled.
You call your insurance provider about your car and the policy you pay an arm and a leg for each month.
They tell you they're sending you a check for $ 19.909.87 the current value of your car they're willing to cover.
After the insurance company sends you a check for $19,909.87 to pay off the bank, you still owe the bank a balance of $3,764.46 (the difference of the price you paid for your new car and it's current true value). Banks call this balance "the pay off".
You didn't buy Gap Insurance for an extra $386.09 when you bought your car. That's $6.43 a month you would have paid on a 60 month note.
If you had, your Gap insurance would now be paying off the $3,764.46 "pay off" you still owe the bank.
And you would have saved $3,764.46 instead of paying the $3,764.46 you're paying now out of your pocket.
Ask us about our GAP insurance that costs just a few dollars more a month so the next time something unfortunate happens, you won't have to pay a thing!