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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.
Guaranteed Asset Protection (GAP) insurance (also known as GAPS) was established in the North American financial industry.GAP insurance protects the borrower if the car is written off or totalled by paying the remaining difference between the actual cash value of a vehicle and the balance still owed on the financing. [1]
Guaranteed asset protection (GAP) insurance is a type of auto insurance coverage that is most commonly available for newer vehicles. New cars can depreciate quickly, so carrying standard coverage ...
Many types of car insurance can offer financial protection for the investment you’ve made in your vehicle. However, each coverage type pertains to specific situations, and it can be difficult to ...
TruStage Financial Group sells commercial and consumer insurance and protection products. TruStage Financial Group provides retirement plan services to small businesses and credit union employees. The Madison, Wisconsin -based company also provides auto, home, life and loan protection products to credit union members through its TruStage brand.
Car insurance is more than just a legal requirement or another expense to account for in your budget. Car insurance is a contract between you and an insurer that offers financial protection if you ...
Vehicle insurance in the United States (also known as car insurance or auto insurance) is designed to cover the risk of financial liability or the loss of a motor vehicle that the owner may face if their vehicle is involved in a collision that results in property or physical damage. Most states require a motor vehicle owner to carry some ...
Bankrate’s insurance editorial team created this guide to answer these and other questions about car insurance so that this is one task that is fairly simple after the loss of your loved one.
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