GAP insurance is sold to people when they purchase a vehicle. You're told that if something happens to your vehicle and you owe more than the blue book value, GAP insurance will cover the rest. That is completely false. I had GAP insurance on a vehicle. The vehicle was totaled in an accident that was completely not my fault. My insurance company paid the blue book value, and there was still some money owed on it. I thought that since I had GAP insurance, things would be fine. How wrong I was. After months of gathering all the necessary information to give to them, they paid out less than I paid for the coverage in the first place. That is ridiculous! The accident was not my fault at all. When paying the lien, I always paid on time, and typically made payments of twice the minimum amount due. On the company's website they have 'examples' of breakdowns on what they pay to sell you the insurance. However, they don't tell you that they aren't going to actually pay that. They have on the back of the agreement that the blue book value of the vehicle will be 'considered', and that up to X number of payments will be 'taken into account.' They don't tell you that what they are actually doing is taking the value of the vehicle, and subtracting how much you've paid for a certain number of months. Meaning the more you pay, the less they are going to pay. Basically, when you really need that GAP coverage, when the vehicle's blue book value has dropped enough and you've made a lot of payments, they aren't going to pay squat.
So, I'm angry at the GAP insurance company for being misleading to the public. I'm angry at the dealership that sold me the policy by lying and saying I would be completely covered should something happen. I'm angry at 'experts' telling me that GAP insurance is a good idea and will protect you. I'm really angry about this. I'm posting this hoping that other people will be much more cautious when it comes to vehicle and insurance purchases. Regular insurance companies have to be upfront and tell you they will only cover the blue book value of the vehicle with full coverage. So why do GAP insurance companies get to mislead the public? I just want people to know that just because you bought GAP insurance doesn't mean that you're covered.
*Note from Anger Central
When the Webmaster recently purchased the new Angrymobile, they tried to foist that off on him as well. Due to the rather large down payment he made, they didn't push it since it wasn't economically viable for them.
My husband was recently laid off, so our insurance is no longer PPO, its an HMO. I go ahead and seem my PPO doctor and pay him out of pocket. I needed to see a obgyn and so I called my insurance company (HMO) They gave me the name of several doctors that were in the network and told me I could make an appointment. I did not need a refferal from my primary HMO doctor (which I never want to see). When I met the doctor, all he asked is who was my primary care physian and did I have an authorizion to see him. When I explain, that I did not see the HMO doctor and was told by my issurance to call your office and make an appointment. I have been in pain for over 6 months, this is the reason for my visit. Do you think he ask, "Where it hurts, how long or anything else. NO!!! Just about the insurance. It is so sad that government has turn doctors into only caring about getting paid. I know that many people go into the medical field for the money, but most do it because they want to make a differnece. Even after I told this doctor, if there is an issue I will pay you cash. No, my health was not important to him. I say, get out of the medical profession asshole!! My husband was just hired, wiht full benefits. I will not be taking my PPO to this doctor. Doctors everywhere, sometimes you have to help even if it means not getting paid - could be life or death!!!
Other than the Affordable Care Act. You make an appointment with your doctor (his minimum wage staff) for a procedure. Your doctor is a preferred provider in network with your insurance company. You ask the doctors scheduling to make sure everyone who touches you and everything used for the procedure including labs and imaging is preferred provider in network. The day of the procedure arrives and you sign a form that you will be responsible for all money even if the health insurance doesn't pay. A few weeks after the procedure you get a bill from the imaging provider, the lab and the anesthesiologist starting you owe money and if it's not paid off immediately,they will turn it over to collections. You also receive a letter from your health insurance stating the imaging, the lab and the Anesthesiologist were not prefer providers in network. Ahrrrrrrr. This catch 22 is worst than google wanting your soul for using their app.
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