No, Gap insurance does not cover you buying back your vehicle. Gap insurance pays the difference between the actual cash value (ACV) of the vehicle that your primary insurance settlement pays out and the balance of your loan or lease. If you want to buy back the vehicle that was determined to be a total loss than some insurers will let you take that amount out of the settlement amount, however if you still owe a lien holder than this is usually not the case.

When you still owe money on the vehicle that was found to be a total loss than the ACV settlement amount goes to the lien holder and if you want to buy back the vehicle you would need to pay the insurance company the salvage value that they are asking for the car. Your Gap insurance is not going to cover this amount since it is not part of your loan or lease amount.

So you would need to pay the insurer the salvage value to buy back the vehicle and also pay to have it repaired so that your state will find it roadworthy again. You should contact your state's department of motor vehicle to see about branded titles and if to get back on the road with the totaled out car if you would have to get it inspected and get your salvage title changed to a rebuilt title. State laws differ on what the process is.

Insurance, especially full coverage, can be difficult to find for a car with a branded title. CarInsurance.com can offer an insurance policy on salvage and rebuilt titles with Progressive.

All you have to do is enter your zip code here and get a quote. At the end of your quote, select Progressive and we will ask all the necessary questions to determine eligibility and get you a policy for your needs.