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Mechanical breakdown insurance, also called car repair insurance, is a type of insurance policy or an endorsement to your auto insurance policy that helps cover the cost of mechanical and ...
For instance, if your car's value has dropped to $25,000 but you still owe $30,000 on your loan, gap insurance would cover that $5,000 difference if your car is totaled or stolen.
With average car insurance rates soaring, it's an ideal time to shop around for a new auto policy. Our step-by-step guide simplifies the process — with money-saving tips on getting the best deal ...
A vehicle breakdown is a mechanical or electrical failure of a motor vehicle in such a way that the underlying problem prevents the vehicle from being operated or impedes the vehicle's operation so significantly that it is very difficult, nearly impossible, or else dangerous to operate. [1] Vehicle breakdowns have various causes.
Gap insurance: Covers the difference between the insurance payout and your remaining loan balance if your financed car is stolen or declared a total loss while you still owe more than it’s worth.
Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a ...
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