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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 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 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 sold by a broker. The second type is a waiver agreement sold by a ...
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.
The cost of gap insurance in North Carolina will vary depending on numerous factors, including insurance provider, vehicle type, location and other personal rating factors. The average cost of a ...
The excess value of the firm's liquid assets over its volatile liabilities. A company with a negative liquidity gap should focus on their cash balances and possible unexpected changes in their values. As a static measure of liquidity risk, it gives no indication of how the gap would change with an increase in the firm's marginal funding cost.
Guaranteed asset protection (GAP) is a type of insurance or, sometimes, a non-insurance agreement that will cover the difference between a vehicle's actual market value and the amount owed on the ...
An asset's initial book value is its actual cash value or its acquisition cost. Cash assets are recorded or "booked" at actual cash value. Assets such as buildings, land and equipment are valued based on their acquisition cost, which includes the actual cash cost of the asset plus certain costs tied to the purchase of the asset, such as broker fees.