We offer a number of different GAP policiy options. In each state where we are an online insurance agency and offer Safeco, Travelers, Progressive, and The Hartford we offer Loan/Lease GAP coverage along with your auto insurance policy. Those policies are limited to the terms of your policy and must be purchased with physical damage on the policy.

It depends on a specific insurer's GAP insurance policy rules whether your deductible will be covered or not as part of the coverage. GAP insurance normally only pays the difference between what is owed and what the Physical Damage Insurance Company pays out (the ACV of the vehicle). That being said some GAP policies will pay the deductible while there are some others that do not.

Below are standard terms for a GAP policy, but remember the terms of Loan/Lease GAP coverage will vary depending upon the guidelines of the issuing company:

• GAP insurance is available if there is a leaseholder or lien holder on the vehicle. A lessor or lien holder can only be a financial institution; it cannot be a private individual.

• Provides coverage when a vehicle sustains a total loss.

• Covers the difference between the actual cash value (ACV) of the vehicle at the time of loss (less deductible) and the amount owing on the loan or lease. (Payment will not exceed 25 percent of the actual cash value of the vehicle at the time of loss, so there is a maximum payout in this manner)

• Can be purchased on new and used vehicles at any time during the policy term.

• Collision and Comprehensive coverages required.

• Payment will not include unpaid finance, excess mileage or any other charges or expenses associated with the loan or lease.

In addition to our auto insurance coverage option, we offer Gap insurance. This is a stand alone policy underwritten and sold by: Lee & Mason Financial Services, Inc., Northville NY. It is available in all states except: CT, LA, NE, NH, NM, NY, VA, WA and you can read more about how it works here.

Since GAP policies terms differ depending upon the guidelines and policy terms of the provider you should discuss your questions with a GAP insurance carrier to make sure your needs will be taken care of before purchasing this type of optional auto insurance coverage.