Ads
related to: do i need gap insurance on a used car calculatorsidekickstar.com has been visited by 10K+ users in the past month
Search results
Results from the WOW.Com Content Network
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 ...
However, gap insurance makes sense when your auto loan balance is likely to exceed the actual value of the car. This usually happens when: You put little or no money down when you financed your car.
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 ...
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. Comprehensive. Collision. What it covers. Only covers your car if it is deemed a total loss. Only pays the difference between the depreciated value and your remaining loan balance.
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]
Ads
related to: do i need gap insurance on a used car calculatorsidekickstar.com has been visited by 10K+ users in the past month