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The average cost of a full coverage car insurance policy in North Carolina is $1,713 per year, but your personal rate, including the addition of a gap insurance endorsement, will vary from this ...
Gap insurance only provides financial protection for the gap between the actual cash value of a vehicle at the time of a total loss claim and the current amount still owed on an auto loan. Total ...
Secondly, gap insurance is not new car replacement insurance. It may help you pay off an existing car loan, but it does not provide the full funds to replace a totaled vehicle with a new version.
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.
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 are two ways of getting GAP coverage. The first type is an insurance policy ...
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 ...
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