Ads
related to: 45 auto vs gap protection plan cost- Plans & Pricing
Top 5 Picks for Best Car Warranty.
Compare Plans and Pricing.
- Best Car Warranty 2025
Compare Top-rated Car Warranties.
Extend Your Vehicle's Coverage Now.
- Car Repair Insurance
Is Your Car Warranty Expired?
Get Extended Coverage for Your Car.
- Extended Auto Warranty
Top 5 Picks for Best Car Warranty.
Get Extended Coverage for Your Car.
- Side By Side Comparison
Top 5 Vehicle Warranty Companies.
Cover Unexpected Auto Repairs.
- Vehicle Service Contract
Top 5 Vehicle Warranty Companies.
Get Extended Coverage for Your Car.
- Plans & Pricing
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.
Gap insurance costs 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.
GAP coverage is mainly used on new and used small vehicles (cars and trucks) and heavy trucks. Some financing companies and lease contracts require it. [2] GAP insurance covers the amount on a loan that is the difference between the amount owed and the amount covered by another insurance policy. [1] Some GAP policies also cover the deductible. [3]
In this instance, gap insurance could help cover the remaining $5,000 you owe on your auto loan. Typically, gap insurance is only available for brand-new vehicles or for models that are less than ...
Gap insurance. Comprehensive. Collision. What it covers. The difference between the amount still owed on a new or leased vehicle and the actual cash value paid out by an insurance provider to a ...
Loan/lease payoff coverage, also known as GAP coverage or GAP insurance, [15] [16] was established in the early 1980s to provide protection to consumers based upon buying and market trends. Due to the sharp decline in value immediately following purchase, there is generally a period in which the amount owed on the car loan exceeds the value of ...
Ads
related to: 45 auto vs gap protection plan cost