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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 ...
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 ...
Third-party vehicle insurance is a mandatory requirement in Indonesia and each individual car and motorcycle must be insured or the vehicle will not be considered legal; this compulsory auto insurance is legally called the Road Traffic Accidents Compulsory Coverage Fund (Indonesian: Dana Pertanggungan Wajib Kecelakaan Lalu Lintas Jalan, DPWKLLJ ...
Gap insurance vs other coverage options. Many types of car insurance can offer financial protection for the investment you’ve made in your vehicle. However, each coverage type pertains to ...
Gap insurance is also known as loan or lease gap coverage. 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 ...
Depending on the carrier, other optional coverage types may include roadside assistance, rental car reimbursement, new car replacement and gap insurance. Just like fingerprints are unique, so are ...
Merged with the General Accident Insurance Company of Canada to form the CGU Insurance Company of Canada (now Aviva Canada). Confederation Life Assurance Company: 1871 1995 Acquired by Manulife and Maritime Life after bankruptcy Crown Life Assurance Company 1900 1998 Canada Life Assurance: Dominion Life Assurance Company: 1889 1985 Manulife
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