GAP Insurance Shortfall Calculator

Find the gap between what you still owe on your car and what your insurer is offering — and whether GAP coverage should close it.

Not legal, financial, or insurance advice. This tool gives a general, educational estimate only. Insurance laws, deadlines, and formulas vary by state, by policy, and by insurer, and they change over time. Verify anything important with your insurance policy, your state department of insurance, or a licensed attorney before relying on it. GAP contracts vary by lender and provider — always check your specific contract's exclusions.

What GAP insurance actually covers

GAP (Guaranteed Asset Protection) coverage is designed to pay the difference between what you owe on a car loan or lease and what your standard insurance pays out after a total loss — because a car’s actual cash value often falls faster than a loan balance, especially in the first few years.

Common exclusions to check

Past-due loan payments at the time of the loss
Extended warranties or service contracts rolled into the loan
Unpaid finance or interest charges
Your insurance deductible (covered by some GAP policies, not others)

Frequently asked questions

Does GAP insurance cover my deductible too?

Some GAP policies cover a portion of your deductible (often capped around $500), most do not. Check your specific GAP contract or ask your GAP provider directly.

What if I don't have GAP insurance and there's a shortfall?

You're typically still responsible for the remaining loan balance to your lender, even though the car is gone. Some lenders will negotiate a payment plan — contact them as soon as you know the settlement amount.