Every once in awhile, it becomes necessary to purchase Gap Insurance when buying a new vehicle. Especially if you are going to spend quite a bit of money on it. You want to know if it gets totaled a year from now that you will be able to get fully what you paid for it (or atleast the amount to cover your loan) and not have to pay a penny more. When an emergency happens, it is good to have the insurance you need to cover the extra costs that may be incurred.

Have you ever purchased Gap Insurance on a vehicle? Do you think it is a good idea? Why or why not?