So what happens now?
In the best-case scenario, you have enough money from the settlement to replace the car without using your savings. Worst-case scenario, you could be left with no car and have to pay for something you no longer have.
Gap insurance can help,
We can not stop you from being in an accident or your car being stolen. Still, it can ensure that should the worst ever happen, at least the financial worry is taken care of after the distress experienced.