Having the right car insurance can save you a lot more than you think, including an average of $453.
Gap coverage
The amount your insurance company calculates as your car's actual cash value can be hundreds - even thousands - of dollars away from what you still owe on your lease or loan, especially within the first year. That means if you owe more than your car is worth, there can be a painful gap, since you're ultimately responsible for paying off the lease or loan, even if the insurance check doesn’t cover it.
That's where Loan/Lease Gap Coverage comes in - it can step in and pay the difference between what your basic auto insurance pays for your totaled car and the amount you may owe on your lease or loan.