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Contact the company that has your loan. They would love to help you get GAP insurance seeing as how you would being paying for something that benefits them as much or more than you.
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∙ 12y ago
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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.
Does State Farm offer Ohio gap car insurance?
According to various sources State Farm doesn't offer gap insurance. Gap insurance is usually offered through the dealership when you purchase your car.
Where can I purchase gap insurance?
Yes, there are several companies from whom you can buy gap insurance; some exclusively deal with gap insurance. You may pl try these links- www.carinsurance.com/; http://www.national-gap-insurance.com/; http://www.gapinsurancequotes.com/ , to name a few.
How do you know if you have gap coverage on your car?
GAP Insurance is usually purchased at point of sale through Auto Dealerships and Automotive Finance Companies. You should look at the paperwork you received from your vehicle purchase. GAP Insurance is NOT Auto Insurance. It is Finance Company insurance.
Where can one purchase auto gap insurance?
Auto gap insurance is usually available from any decent motor insurance company. For assistance finding one, one could visit a website such as MoneySupermarket.
Where can I purchase New Jersey gap car insurance online?
Of course it is possible to purchase a New Jersey gap car insurance online! Many of the common and most popular companies include: Geico, Farmer's, Allstate, and Progressive.
Is California gap car insurance a good buy?
Gap insurance would be a good choice if you put less than 20% down on a new car. If something were to happen to your car shortly after the purchase, gap insurance will pay what you owe, not what the car is worth.
How much is it to purchase gap insurance?
If you are a UK resident, a Gap Insurance policy can start from just £55 - it really depends on what type of GAP Insurance you need, the period of cover and the claim limit required. Visit the related link for more details and market leading policies.
Does gap insurance cover a vehicle that's insured when in accident?
No, you are misstating what GAP coverage is. GAP insurance is a separate type of insurance that you can purchase as part of your finance agreement or on your personal auto insurance. What GAP does is pay the difference in what your insurance company pays and what is actually owed on the finance account for the vehicle. This is especially important when a vehicle is newer. An auto insurance policy pays either the cost of repair, replacement of the vehicle, or actual cash value of the vehicle at the insurance companies option. If the vehicle is totaled they pay ACV which on a fairly new vehicle is less than the purchase price. Purchasing GAP insurance is usually far less expensive when purchased from your insurance company than the finance company.
If your car is worth 12K but you owe 20K on it will the insurance company pay it off if it is totaled in an accident?
You can only collect the fair market value or retail book value depending on the regulations as established by your state's insurance commissioner. The only way you can collect the difference between the Actual Cash Value of your vehicle and the Payoff is through GAP insurance. This is usually offered to you during the purchase of your vehicle but can be purchased later. At the time of purchase, the offer to purchase GAP insurance may seem like a ploy by the salesman to sell you something you don't need. However GAP insurance is a valuable option should this situation arise. GAP insurance is what its name implies, insurance coverage for the "GAP" between the fair market value of your vehicle and the payoff amount.
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.
What is gap insurance?
GAP insurance is coverage that covers the difference between the value of the vehicle at the time of the accident and the amount that is owed on the loan at the time of the accident. GAP insurance can be purchased from the finance company or from the persons insurance company. Usually it is much cheaper to get it from the insurance company.
