Additional Insurance Coverage

additional insurance coverage

Uninsured/underinsured motorist coverage

Optional or additional insurance coverage that pays for your injuries and property damage caused by a hit-and-run driver or a motorist without liability insurance. It will also pay when your medical and car repair bills are higher than the other driver´s liability coverage. 

 Gap insurance

Gap insurance is not required but can be a valuable add-on, especially for a newer car that is being financed. The value of a new car depreciates as soon as you drive it off the lot. By the end of its first year on the road, a car’s value can depreciate up to 30 percent. Just because the value of the car has gone down, does not mean the balance on your car loan has gone down with it.

Gap insurance pays for the difference between the actual cash value of the car at the time it is totaled and the balance of its remaining loan or lease. If you do not have gap insurance, you will be responsible for the difference and continue to pay off a loan of a totaled car. Some insurance companies may also pay your insurance deductible.

Gap insurance may be purchased through your auto insurance company, as a one-time fee that may be added to monthly payments, or as a one-time fee from insurance companies that only sell gap insurance.

Do you need more information about additional coverages? Our agents and customer service representatives are here to help. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week