Gap insurance only pays if the vehicle is totaled in an accident or stolen and not recovered. It does not cover the deficiency balance after a repossession sale.
Gap insurance will not cover repossession in any state or territory of the US. Repossession is not a valid claim for insurance. In fact, it is possible your insurance could be cancelled as a result of the repossession, making you high risk.
Gap insurance does not cover repossession anything. It only covers if you wreck the car and owe more than it is worth.
No, GAP Insurance covers the difference between the market value of the vehicle the insurance company pays you after a total loss and what you owe to the financial institution.
It is true that a medicare gap insurance could cover some of the extra expenses that you have. However, it will not cover ALL of your extra expenses.
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.
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GAP insurance will pay the difference between what your car is worth and what is owed on the loan.
Since your insurance might not cover the balance you still have on your financed car, GAP insurance protects the balance of your loan in the event of an accident.
If your asking if your auto insurance provides protection from repossession for non payment of you car note. No, there is no such thing.Your auto insurance provides coverage for accidental injuries and or damages, it does not cover your car notes.AnswerI don't know what repossession insurance is. I know about life insurance, but I've never heard that term. Please re-post your question if this doesn't help!
Gap insurance in a second policy that augments your original plan. In the case of cars, if your current plan doesn't cover theft, you can get a 'gap' plan that does.
Wrongful repossession insurance??? Coverage for when the Repossession Agency wrongfully recovers an asset for a myriad of reasons.
When the comprehensive coverage has a large gap in coverage. Typically if a medical policy has a large deductible, there s gap insurance available to cover that "gap". Also there is coverage available to cover the "donut hole" in the medicare part d pharmacy b