Mar 10 2011

What is GAP insurance for cars?

Category: Auto Insurance

Answer:

GAP insurance is a way to offer protection to individuals that have just started making loan or lease payments on a car. If an accident should occur that results in a total loss, GAP insurance will make up the difference between the “actual cash value” of their new car and the amount they currently owe. It is usually only useful in the first few years of owning a vehicle.


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