Shorr Agency - home, auto, health, & small business insurance in Palos Verdes & RSM. Plus, motorcycle, boat, RV, earthquake & rental insurance.
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Loan & Lease Gap Coverage

Gap (Loan / Lease) Coverage:

Should I buy this coverage from the car dealership or my insurance agent?

When you purchase a new car, the dealership will most likely suggest that you purchase Loan Gap or Lease Gap protection.  This means that if the vehicle is involved in an auto accident and the vehicle is destroyed, you as the owner or leasee still owe payments on the car.  With the Gap Coverage, the insurance company will pay the difference between the Actual Cash Value (ACV) and the Loan or Lease amount up to 125% of the ACV of the gap.  

This coverage is available for vehicles less than five years old and carry both comprehensive and collision coverage. 

Now, the dealership may charge $100s or $1,000s for this protection.  Your insurance company generally charges a lot less!  You'd be surprised to find out the difference!

Call your agent to add this valuable coverage onto your auto policy or learn more by calling 1-888-737-6200.
auto quote

Personal Insurance

Auto
Home
Health
Vision

Condo
eBikes
Dental
Rentals
Renters
Umbrella
Motorcycle
Townhouse
2nd Homes

Earthquake
Motor Home
Mobile Home
Vacation Rentals

Personal Watercraft
Medicare Supplements

Commercial Insurance

Bonds
Business Auto
Cyber Liability

General Liability
Home Businesses

Commercial Property
Commercial Umbrella
Workers' Compensation
Professional Liability (E&O)
Business Owners Policy (BOP)
Employment Practices Liability (EPL)

Contact Us

Hours:  M-F  8am - 5pm

888-737-6200 Toll Free

Office Locations:

609 Deep Valley Drive # 200
Palos Verdes Peninsula, CA  90274

30211 Ave. de las Banderas # 200
Rancho Santa Margarita, CA 92688
(Mailing Address)

CA License # 0146520

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  • Start Here
  • Our Agency
    • Radio
    • Our Story
    • Testimonials
    • Employment
    • Free Stuff
    • Insurance Agencies for Sale
  • Get a quote
    • Auto Quote >
      • Auto Coverages >
        • Loan & Lease Gap Coverage
        • New Car Replacement / Gap Coverage
        • Total Loss Deductible Waiver
      • Auto ID Cards
      • Roadside Assistance
      • How to install SmartRide
    • Home Quote >
      • Home Coverages >
        • Bicycles
        • Home Warranty Plan
        • Identity Theft
      • Tips for Hiring Contractors
      • Fire Safety
    • Health Quote >
      • Affordable Care Act FAQ
      • Qualifying Events for Special Enrollment Period
    • General Liability Quote >
      • Workers Compensation
      • Bond Quote
      • Employment Practices Liability
    • Earthquake Quote
    • Flood Quote
    • Rental Quote
    • Umbrella Quote
    • Motorcycle Quote
    • Boat Quote
    • Motor Home Quote
    • Text-a-quote
  • Client Services
    • Brochures
    • Claims >
      • Find a Body Shop
      • Windshield Repair
    • Mobile apps
    • New & Renewals >
      • Auto Insurance Renewal
      • Business Insurance Renewal
      • Home Insurance Renewal
      • Why did my premium go up
    • Pay bills
  • Contact Us