Ads
related to: do i need gap insurance from dealer to make a payment
Search results
Results From The WOW.Com Content Network
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 cost of gap insurance usually depends on the make and model of a vehicle, the rate of depreciation, your age, and your vehicle claims history. It also varies by state.
Standalone gap insurance is a gap insurance policy you purchase separate from any other policy or product. For example, if you lease a vehicle, the dealer may require you to purchase gap insurance ...
Gap insurance is optional car insurance endorsement that covers the “gap” between the amount owed on a vehicle and its actual cash value (ACV) in the event it is totaled, stolen or rendered a ...
GAP insurance is typically offered by a finance company at time of purchase. Most auto insurance companies offer this coverage to consumers. GAP insurance is often paid upfront and the purchaser is usually entitled to a refund of the unused portion of the premium if the vehicle is sold or refinanced before the end of the loan term. [4] There ...
In most cases, yes, you need to have comprehensive and collision coverage before you can purchase gap insurance. If you have it on your auto policy, you might be able to cancel your gap coverage ...
Ads
related to: do i need gap insurance from dealer to make a payment