I've been thinking about this lately... imagine you just bought a brand new car, shiny and perfect, and you're feeling pretty good about it. Then, bam, two months later someone rear-ends you at a stoplight. You're fine, but the car's totaled. Insurance pays out, but it's way less than what you owe on your loan. Now you're stuck paying off a car you don't even have anymore.
I heard there's this add-on coverage you can get that covers the difference between what insurance pays and what you owe. Sounds good in theory, but I'm wondering if it's really worth it. Like, how often does this scenario actually happen? Is it just another way for insurance companies to squeeze more money out of us, or is it genuinely useful? Curious if anyone here has experience with this kind of coverage or knows someone who does.
