---
id: faq-0124
title: "What is gap insurance and should I consider it with my Chevrolet purchase?"
category: faq
subtopic: warranty-and-protection
page_type: faq
source_url: "https://www.castlechevymchenry.com"
tags: ["gap-insurance", "loan-protection", "financing-protection"]
questions:
  - "What is gap insurance?"
  - "Do I need gap insurance on my Chevy?"
  - "Should I buy gap insurance with my loan?"
related: [financing-options, extended-warranty-options, purchase-process]
dealer: Castle Chevrolet McHenry
---

Gap insurance (Guaranteed Asset Protection) is optional coverage that protects you if your vehicle is totaled or stolen. It covers the difference between what you owe on your loan and what your insurance company pays out-so you don't end up owing money on a vehicle you no longer have.

It's especially valuable if you're financing your Chevrolet and putting down a smaller down payment. If an accident happens early in your loan when you're still "upside down," gap insurance saves you from that financial gap.

Our finance team can explain gap insurance in detail and show you options during your purchase. It's a smart protection to consider alongside warranty coverage. Call (779) 600-2956 to discuss gap insurance and all your protection options.