Ackerley Featured in WalletHub
Feb. 27, 2023
Ed Ackerley, professor of marketing in the Eller College of Management, was featured in a February 27 WalletHub article discussing gap insurance.
Gap insurance is known as an optional type of car insurance that covers the ‘gap’ between a car’s worth and what the driver owes on their auto loan or lease if something happens to the car.
Without gap insurance, drivers may be stuck paying the remaining loan or lease balance on a car that is no longer drivable.
“The most important thing to consider when purchasing GAP Insurance is the coverage of the replacement cost versus the value of the vehicle,” says Ackerley. “In most cases, the value of the automobile, motorcycle, recreational vehicle, or boat will be worth less than what is owed on the loan.”