Yes, there are different types of Gap insurance policies and they each come with exceptions for items they may not cover.

If a loss occurs, full GAP insurance will pay the difference between the actual cash value (ACV) of the vehicle and the current outstanding balance on your loan or lease. Gap Insurance protects your vehicle lease or loan. Sometimes it will also pay your regular insurance deductible if your gap policy includes this payment as part of its payout to you.

Loan/Lease Payoff coverage, also known as Loan /Lease Gap insurance (LLG), is slightly different from Gap insurance because a maximum payout of 25 percent of your vehicle's ACV is stipulated in your policy instead of full GAP insurance which should pay the difference between what is owed and what the Physical Damage Insurance Company pays out (the ACV of the vehicle). If one is not able to obtain full gap insurance but can get LLG coverage than it may be worth it if one has negative equity in their vehicle, meaning you owe more than the worth of your car.

Restrictions to a full Gap policy typically include:

• Maximum Limit of Loss: $50,000
• The claim settlement may not cover the entire Gap due, when your loan's Original Amount Financed exceeds 120% of MSRP (new vehicle) or NADA Retail Value (used vehicles), plus 30% of Value allowable for Additional Financed Items like Credit Life or Service Contracts. The claim settlement does not cover late charges or other penalties due to your lender.
• Your loan amount financed must be less than or equal to $100,000.
• Your loan term must not be greater than 84 months.
• The loan must not have a balloon payment due at the end of the term.
• The maximum APR is 12.5%

Notable general GAP exclusions include (meaning gap will not pay out for these items):

• Overdue lease/loan payments
• Financial penalties imposed under a lease for excessive use
• Security deposits not refunded by the lessor
• Costs for extended warranties, credit life insurance, or other insurance purchased with the loan or lease
• Amounts deducted by the primary insurer for wear and tear, prior damage, towing, and storage
• Carry-over balances from previous loans or leases
• Equipment added to the car by the buyer, meaning that only factory-installed equipment is covered

Full gap insurers are different than insurance companies that offer Loan/Lease GAP coverage (known as LLG or Gap). For example LLG coverage with Progressive on a Florida policy notes that this coverage:

• 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 of the vehicle at the time of loss 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.)
• Can be purchased on new and used vehicles at any time during the policy period.
• 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

So to find out what type of Gap insurance you had read through your Gap policy and speak to your agent of the company that this coverage is through if you are uncertain as to why your full gap amount was not covered by them.

When you get a replacement car for your totaled vehicle you can shop for gap insurance with on here on the web. On our site we display either a Gap insurance or loan/lease payoff coverage option for Esurance, Progressive, Hartford, Travelers, Safeco, and Unitrin Direct in most states, along with Customized Parts Coverage if you add parts to your car that you want to be covered by such an endorsement. You can see if any of these meet your needs on your new vehicle keep in mind however they require you to purchase your primary auto insurance coverages with them as well.