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GAP insurance rarely works at all. In my decades as an Insurance Agent, I've only ever seen one person who successfully got a pay out from a GAP insurance policy and that was only because she sued them to get it. GAP Insurance is a scam and in my opinion should be outlawed along with all those prepaid legal scams. I have never known of a single Insurance Agent who sells GAP Insurance. It is usually sold by the Car Dealerships, The Finance officer at the dealership typically gets a 300 dollar bonus if he convinces you to buy it. It is being sold to the public by auto dealerships, Nough Said.
Answer: GAP insurance is additional car insurance you can get that covers amounts not covered by typical auto insurance providers. For example, when you purchase a car, its value automatically starts to decrease. If you get in an accident where the car is totaled, the insurance company will only pay the current blue book value of the car. However, you might owe more than the current value, leaving you with a few thousand dollars to cover on your own. GAP insurance will cover the remaining amount you owe and often times also the deductible of your primary auto insurance.
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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.
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.
Where is the best Gap insurance located at?
What insurance you go with is entirely up to you; insurance is all about personal preference. Gap insurance has some lower rates than other companies; make sure you can get Gap insurance in your area by checking their website.
If you total your car after your insurance is canceled will GAP insurance still protect you?
NO,, GAP Insurance is supposed to pay the difference between what your Auto Policy paid and any remaining portion of your loss after the Auto Insurance Policy has paid it's maximum. If No Auto Insurance Policy is in Place providing comprehensive and collision coverage then your GAP Policy is Null and Void. GAP coverage only pays in conjunction with your Auto Insurance Policy. No Auto Insurance! No Gap Payment
Is auto gap insurance necessary in Anchorage, AK?
Yes, auto gap insurance is necessary in Anchorage, AK
Who is the CEO of Gap Year Insurance?
Andrew House is the chief executive officer of Gap Year Insurance. Gap Year Insurance has steadily seen an increase of 61% in claims in the past six months.
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.
I had a wreck. Insurance wants to total the car. When I purchased the car I purchased GAP insurance. I filled Bankruptcy Chapter 13. Wondering will the GAP insurance cover balance of after insurance?
Yes, you have taken a smart and wise step. When your car will be totalled by the insurance company, than the balance amount of the loan which you will have to pay will be paid by the gap insurance. This is the purpose of gap insurance. Gap insurance pays for the difference in the insurance settlement and the loan amount when there is an accident or a misfortunate event that leads to a claim like theft of the vehicle. The purpose of insurance is to save a person from financial problems.
Is it necessary to have gap auto insurance in New York State?
In New York state it is necessary to have gap auto insurance. It is the seller's legal responsibility to include gap auto insurance in the cost of leasing the vehicle.
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.
