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Gap insurance is supplemental auto coverage, in addition to comprehensive and collision insurance, that pays off a loan balance in the event your vehicle is totaled or stolen and never found and ...
Guaranteed asset protection insurance (or GAP Insurance) is an insurance coverage offered as a supplement to automobile insurance policies or auto loans. A GAP policy covers the difference between the value of a car (i.e., what the insurance company will typically pay), and what the borrower owes on the loan if the car is totaled or stolen.
The total loss is usually determined by the primary insurance company’s third-party appraiser. [citation needed] Exclusions to GAP insurance vary by country or state. Some exclusions include a maximum loss limit of $50,000 while others require a loan term of less than 84 months. [5] GAP is an optional purchase, but many states in the US ...
For example, if you owe $20,000 on your car but it's only worth $16,000, gap insurance covers the $4,000 difference should your car become totaled or stolen. Does my car insurance policy cover ...
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The Canadian International AutoShow exhibits over 1,000 cars, trucks, and SUVs as well as, concept cars, exotics, classics, and alternative energy vehicles. The Toronto Star and Wheels.ca is the presenting Title Sponsor and Show Program Publisher of the show. The AutoShow also rents booths to over 125 exhibitors promoting contests, products ...