Okay, so you have a question. It might seem like a bit of a far-fetched scenario, but you’re curious about something. Not that you’re planning to ever find out how this could work in practice, but in theory…would your car insurance cover you if your vehicle were to catch fire? In other words – is fire covered by car insurance? Well…here’s the deal.
Do I need gap insurance?
If you owe more on your car loan than your car is worth, you might want to consider gap insurance.