About "Gap" Insurance.

Fortunately, some finance companies (and some long-term vehicle lease companies) require their vehicle buyers (you) to have "gap insurance" to pay the finance company any difference between the amount owed on the loan and what the auto insurance company pays the finance company for the "total loss" of your vehicle.  So, if you still owe money on your vehicle loan after the auto insurance company pays all that it is supposed to pay, then look for "gap insurance" to pay the difference.  If there is no "gap" insurance, then you could still owe the finance company the difference between what you owe on your vehicle loan and what the insurance company must pay to the finance company for your destroyed vehicle.