HELP ! GAP Insurance Question

[THATJEFFGUY]

So does anyone have the scoop on how GAP insurance "really" works? I purchased a used '04 Suburban last year and then it was stolen in March '05. I found out that I signed for the GAP insurance when I bought it from the dealer. So I filed a claim with my primary primary insurance company (AAA) who paid the lender blue book value, and now the balance ($12K) is in the hands of the GAP insurance carrier (OwnerGuard). They are just dragging their feet and giving me and the lender a bunch of BS saying my primary insurance carrier should have paid more. So now they say there is a difference of approx $9K that I'm responsible for. WTF ?? Isn't that what GAP insurance is for..to pay the difference between the value of the truck, and the balance owed ??? So now the lender is bugging me to make payments until the GAP insurance settles this...which I told them hell no ! It's been almost 4 months and they haven't done anything ! Now I'm really pissed and bascially told the lender AND the GAP insurance people to F off ! Is there any way to settle this..or make the insurance company step up and pay..or do I need to contact an attorney to put a fire under their ass ?? Why am I responsible for anything if I had the GAP insurance? Has anyone dealt with this BS before ?? Damn I HATE insurance companies !

[riverracerx]

My GAP insurance is through my credit union who I have my loan through. They pick up the extra coverage that does not get paid by the insurance company. This is what their website says:
You could lose more than you might expect if your new or used vehicle is totaled or stolen (and not recovered). Since most insurance policies only cover the value of your vehicle minus any deductibles, your loan balance might be higher than your insurance payout. Now you can protect yourself with Guaranteed Asset Protection (GAP), which pays the difference between the value of your vehicle and the amount you still owe. Plus it covers up to $1000 of your insurance deductible.
Sounds like whomever you have GAP though doesn't want to pay up?

[termiteguy]

i would call a lawyer 1st. 2nd i would find out if they are puting dings on your credit every month for being late that will hurt more than the money if you
have to pay

[All IN]

Go to the dealership that sold you the car, I personally do alot of bussiness with Ownerguard and they always pay there claims in a timely matter. If your Insurance is not giving fair market value of your vehicle ask for a manager.

[Wonderboy]

I just bought GAP insurance on my new Dmax. Hope I don't get screwed if anything were to happen to the truck.

[Rock-A-Bye-Baby]

maybe Photoglou would be a good source to go thru....

[topless]

I have gap insurance also. I hope nothing happens to my car but if it does, hopefully it will be worth it. I'm going to go see who mine is through tonight.

[Dawn Patrol]

How much is GAP insurance? Who else offers it?

[voodoomedman]

I get GAP through my insurance company. Seems a little iffy going third party.

[topless]

Go to the dealership that sold you the car, I personally do alot of bussiness with Ownerguard and they always pay there claims in a timely matter. If your Insurance is not giving fair market value of your vehicle ask for a manager.
Thats the same company that he said is dragging their feet.