0
I am assuming you are refering to GAP Coverage.The actual name eludes me but what is, is none other than a life safer.If your vehicle is totaled in an accident it will cover the remaining payments and pay off your vehicle so you are not responsible for the cost.Hope this helps.I have it on my own and would not be without it.It is like any other insurance,you may never need it but when you do, you will be able to sleep at night. Insurance Protection Gap is the difference between what the ACTUAL VALUE of something is, as opposed to what you OWE on it. For example, you car has been wrote off, and you still OWE 5000.00 dollars on it, but it is only worth 4000.00 dollars, the gap is 1000.00 dollars. Hope the helps............
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
How do you close or bridge Life insurance protection gap?
By buying adequate insurance protection.
What policies does GAP Insurance offer?
GAP Insurance is not a specific company. GAP or Guaranteed Auto Protection is a type of insurance that covers the difference between the cash value of a vehicle and the balance still owed on financing for that vehicle.
What insurance should get for a new car?
Seven types of insurance should get for a new car as like: Liability Insurance Collision Insurance Comprehensive Insurance Motorist Protection Personal-Injury Protection No-Fault Insurance Gap Insurance
What type of protection does California GAP protection offer?
GAP stands for Guaranteed Auto Protection. It is best to have if you are financing your purchase. It will protect you from losses incurred when insurance payments will not cover the remainder left on your loan.
What kind of car insurances are there?
There are seven types of car insurance available. There is liability, collision, comprehensive, uninsured motorist protection, medical/personal injury protection, no fault, and gap insurance.
What is meant by Texas gap car insurance?
GAP insurance stands for guaranteed auto protection. It covers the total amount you owe on your car in if it is totaled. Regular insurance only pays for the value of your car which can be a lot less then what you owe.
What if GAP insurance was not offered Can I sue the dealership?
No the dealership can not be sued if they did not offer GAP insurance. The dealership is not required to offer GAP insurance.
How do you find out If you have gap insurance?
By looking at any GAP Insurance Policy you purchased and looking at the dates to see if it is in effect. If you bought GAP Insurance, you would have been given a copy of the bogus GAP insurance Policy.
How do you contact gap insurance?
Gap insurance is not the name of a company, it is a type of auto insurance related to leasing vehicles.
How many different types of insurances are there for cars?
There are seven basic types of car insurance. They are liability insurance, collision insurance, comprehensive insurance, uninsured motorist protection, personal injury insurance, no-fault insurance and gap insurance. A car insurance agent can help figure out what insurance is best based off one's needs.
Gap insurance is from the auto loan or your insurance on the car?
GAP (guaranteed asset protection) auto insurance coverage is one the most necessary, yet least understood insurance products available to vehicle owners. It is generally purchased through the auto dealership or leasing company at the time of the initial purchase or lease.It's purpose is simple: If your car is totaled, gap insurance will cover the difference between what your insurance company says your car is worth (actual cash value) and what you still owe on your loan or lease.
What does Gap insurance use for in Illinois?
What is Illinois gap car insurance? Is insurance you can purchase to cover the gap between the cost of repaying your car loan and the amount the insurance company will actually give you for your totaled car.
