What is GAP insurance and should you buy it?
You need GAP insurance if you owe money on your vehicle, because it protects you from being upside down if you get in a collision.

It’s a nightmare scenario. Your car gets totaled in a motor vehicle collision. Okay, no sweat. You have insurance, so you’ll be covered. Nothing to worry about right?

About GAP Insurance

It’s a nightmare scenario. Your car gets totaled in a motor vehicle collision. Okay, no sweat. You have insurance, so you’ll be covered. Nothing to worry about right? 

Wait a minute! Your insurance company says they’re going to pay the value of your vehicle – $18,000. But you have $24,000 left on your loan! What happened?

That’s just how insurance works, really. It’s designed to pay the current cash value of your vehicle – not the cost of your loan. So you could be sitting on a ticking time-bomb, and not be aware of it.

Who Should Buy GAP Insurance?

Generally, it’s for you if you don’t have much equity in your car. Specifically, it’s likely for you if you:

  • Lease your car
  • Finance for 5 years or more
  • Paid less than 20% down
  • Drive a lot – more than 15,000 miles each year
  • Buy a car that depreciates rapidly (Jaguar XK, Mini Coopers, Hyundai Genesis, Cadillac CTS, Chevy Impala, and others)

Who Should Not Buy GAP Insurance?

You shouldn’t have it if you own your car outright, or if you have equity that exceeds its current market value. 

How Much Does GAP Insurance Cost?

Fortunately, it’s not expensive. Your insurance company will ask you to have collision and comprehensive car insurance. Then, it costs about 5-6% of their combined cost annually.

So, if you pay $1,000 for comprehensive and collision, it costs $50 – $60 per year at most insurers.

That’s not much to pay in exchange for the peace of mind you get. And let’s say you do cause a car accident. GAP insurance comes in super-handy then.

You should be careful who you buy it from. The dealership sells car insurance, but it costs more to buy from your dealership than the insurance company. Dealerships routinely charge $500 – $1000 for GAP insurance, plus ask for an upfront payment, for the exact same coverage that costs $50 – $60 at many insurance companies.

Should You Drop Your GAP Insurance?

Find out by blue booking the value of your car. And remember, this is going to be tough. You’ll want to price your car as high as possible because – hey – it’s your car! And you love your car. But you have to try and be objective, and base the value on the true condition of your car.

When you owe more on your car than it’s worth, keep it. When you owe less than it’s worth, drop it. Insurers let you add or drop gap insurance at any time.

If you need GAP insurance, go ahead and get it. It doesn’t cost much, and it saves an awful lot of stress when you need it.

If you were in an automobile accident that was not your fault, you may be able to get the at-fault party’s insurance carrier to pay the diminished value. If you were also hurt in the collision a personal injury attorney can help you seek damages.

Join The Family That Wins

In the last 3 years, we’ve made TopVerdict’s annual Texas “Top 50 Personal Injury Settlements” list 43 times.

2022 Texas Top 50 Personal Injury Settlements Mullen & Mullen
2021 Texas Top 10 Motor Vehicle Accident Settlements Mullen & Mullen
Award for Texas Top 20 Personal Injury Settlements 2021 by Top Verdict
2021 Texas Top 50 Personal Injury Settlements Mullen & Mullen
2020 Texas Top 10 Motor Vehicle Accident Settlements Mullen & Mullen
2019 Texas Top 20 Settlements All Practice Areas Mullen & Mullen

Why Choose Mullen & Mullen to Handle Your Case?

According to TopVerdict.com, our Dallas attorneys consistently achieve some of the highest recoveries in the state of Texas. As a matter of fact, in the last three years we’ve made their “Texas Top 50 Personal Injury Settlements” list 43 times. For example, in 2021 one of our claims made the Top 10 list, eight made the Top 11-20 list, and ten made the Top 21-50 list. When you factor in our reduced 29% contingency fee, we are confident we will help you recover more. At Mullen & Mullen, we pride ourselves on routinely recovering full policy limits for our clients without the necessity of costly and time-consuming litigation.

We have access to state-of-the-art diagnostic technology through well-established relationships with medical doctors, surgeons, physical therapists, chiropractors, neurologists, counselors, and other healthcare providers in the entire DFW Metroplex. You receive the quality medical attention you need from local providers near where you live or work. These providers specialize in treating people hurt in accidents of all kinds and they know how to properly document injuries to meet the legal burden of proof in your personal injury case. These providers are also willing to delay billing collections until after your case is resolved so you can focus on recovering without additional stress. Physicians that don’t routinely treat accident victims as part of their practice usually turn away patients over fear of being involved in the legal process or fear of health insurance companies refusing to pay accident-related healthcare bills. Please call us at 214-747-5240 for a free consultation and some advice.

Even if you don’t have health insurance or can’t afford your deductible, Mullen & Mullen will secure you the quality healthcare and state-of-the art diagnostics you deserve with no upfront out of pocket costs.

Shane, Joseph and Regis have almost 100 years of combined experience practicing personal injury law. That doesn’t even include the combined experience of the attorneys that serve as of-counsel to Mullen & Mullen at no additional cost to our clients. Our firm continues to evolve, but we never forget our Core Values. We do the right thing, handle cases the way we would want our own case handled, and we truly listen to clients. We have over 40 years of local knowledge, and that matters!

Some lawyers forget that they represent the client, but we never have. Our legal team will make YOU the priority. You are the boss, and we will respond quickly to your requests for case updates and assistance. We guarantee that when you need to speak to your counsel, you will speak directly to your counsel, not to a paralegal or secretary, because that’s the way it should be.

Most firms hire an investigator to help develop evidence on your case and charge you back for that service. Our firm, however, has 2 full-time accident investigators on staff and we offer their services to you for free. This is another way we will maximize your compensation.

They say a picture is worth a thousand words. Video footage is worth a lot more. Our in-house videographer allows us to capture the true impact the accident has on your life beyond mere words on a piece of paper.

When necessary, Mullen & Mullen Law Firm uses cutting edge technology like 3D imaging videos to fully demonstrate the extent of our clients’ injuries to the insurance companies. This also helps maximize the value of your claim.

Mullen & Mullen’s attorneys live and work right here in Dallas, and always have. We believe in paying our success forward by helping people in the North Texas community, and are dedicated to supporting these local charities.

More Than Just Legal Representation
Mullen & Mullen:
The Mullen & Mullen Way


Our success rate speaks for itself. We consistently earn awards from TopVerdict.com for achieving the highest settlement amounts in Texas. In fact, no other law office made their 2021 Texas "Top 50" personal injury settlements list as many times as we did. We placed on it nineteen times in a single year.


You'll always be kept in the loop regarding the status of your case. Calls are answered promptly, and you can even text your dedicated legal team directly 24/7.


We'll make you feel like part of the family, not just another case. Our compassionate lawyers will take the time to listen to your story, comprehensively understand your unique circumstances, and we will tailor our legal strategies accordingly. Your best interests are at the forefront of everything we do.


Mullen & Mullen has been a mainstay in the North Texas community since 1983. Our attorneys are always willing to meet with injury victims face-to-face. You won’t be dealing with some call center hundreds of miles away or on the other side of the country (or world).


We won’t back down or be intimidated in any form or fashion. We will not allow insurance carriers to delay, deny, or minimize your claim. We never hesitate to recommend litigation if it is necessary to achieve a just outcome.

Attorney Access

When you work with a big law firm, you'll most likely be assigned a case worker and may never even talk to your attorney. Our attorneys make themselves available and invest in your case personally.

Discounted Contingency Fee

Of course we only get paid when you do. And when we do, we discount our legal fees to 29% instead of the industry standard 33.3% for claims that settle without litigation.

Top Reviewed

It's not just the hundreds of 5-star reviews that we've earned, but the things that our clients say. Read our reviews and you'll quickly see that we put passion into our work.

What's Next?
Case Evaluation
Following an accident or injury, it is important to speak with an experienced attorney about the specific circumstances of your potential personal injury case.
Accident Investigation
We always investigate each personal injury claim, thoroughly gather evidence, and consult with experts when necessary to develop a strong foundation for your personal injury case. Unlike most law firms, our in-house investigative team - and dedicated videographer - are included at no additional cost to you.
Legal Strategy
Every personal injury claim is unique. Our attorneys will create a highly customized legal strategy tailored to fit the individual circumstances of your case.
Demand Letter
A settlement demand package is prepared that outlines liability and damages including injuries, medical bills, lost wages, pain and suffering, and more. It is typically sent to the at-fault party's insurance company.
Case Settles or Goes to Litigation
Most of our claims settle during the demand negotiation process. We’re dedicated to getting the best possible result for all clients, however, and never hesitate to recommend the filing of a personal injury lawsuit if we believe that is what is required to maximize YOUR compensation.
Ready to Get Started?

The Mullen & Mullen family is here to address your concerns and make the path to recovery smooth. There are no fees to get started and you pay $0 if we don’t settle your case.

Get Your Free Case Evaluation Now