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Gap Insurance: What It Is And How It Works – Forbes Advisor What Is Gap Insurance? Gap insurance is optional car insurance coverage that helps bridge the financial gap for drivers whose car loan balance is more than their vehicle’s worth if it’s totaled
What Is Gap Insurance and How Does It Work? | Progressive What is gap insurance? Gap insurance is an optional auto insurance coverage that applies if your car is stolen or deemed a total loss When your loan amount is more than your vehicle is worth, gap insurance coverage pays the difference
What is GAP insurance and what does it cover? - State Farm GAP insurance can make sense, especially if the loan balance exceeds the car value If you finance your car through a dealer, you may be offered "GAP insurance" as part of a range of options provided when you buy the car
What Is Gap Insurance? [Explained] - explaincharges. com Understanding Gap Insurance: The Basics So, what exactly is gap insurance? The term “gap” stands for Guaranteed Asset Protection It’s a type of car insurance that covers the difference between what you owe on your car loan and what your car is actually worth if it’s totaled or stolen Sounds simple, right? But let’s unpack it a bit more When you buy a car, especially a new one, its
What Is GAP Insurance Used For and Why Do You Need It? GAP insurance, or Guaranteed Asset Protection insurance, helps cover the financial difference when your vehicle’s value and what you owe on it don’t align after an accident or loss This coverage has become increasingly relevant as car prices rise and financing terms extend