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 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]
Gap insurance. If you owe more than your car's worth and it gets totaled, gap insurance helps pay the difference. This protection is useful for new cars that tend to lose value quickly. Rental car ...
A penalty method of calculate a score Ft V V by getttttwww lating the return premium [4] often used when the policy is canceled at the insured's request. It uses a table of factors that results in penalties that can be lower or higher than short rate (90% pro rata) depending upon the date of cancellation.
Gap insurance is different from new car replacement coverage. It is typically more expensive to purchase gap insurance from a dealership than on your own from an insurer.
As the name implies, it covers the gap between the amount of money your insurance company pays you if your vehicle is stolen or declared a total loss and the remaining balance of what you owe on ...
Some insurance companies might also require your vehicle to be brand-new in order for you to purchase gap insurance. This usually means your vehicle is under 3 years old and that you are the ...
Agency Rent-a-Car specialized in delivering cars to people whose personal vehicles had been in an accident and needed a temporary replacement, usually paid for by their insurance company. The company eventually grew to have offices nationwide and a fleet of 40,000 cars until being sold to Avis .