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What does gap cover?

Updated: 9/18/2023
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13y ago

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GAP insurance will pay the difference between what your car is worth and what is owed on the loan.

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13y ago
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Q: What does gap cover?
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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.


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What does gap insurance cover?

Gap coverage is intended to cover the difference between what the car is worth and what is owed on the car. So if you owe 15,000 on a vehicle that has a value of 12,000, you should be covered.


Does gap insurance cover the remainder of a loan from a voluntary reposession of a vehicle?

Gap insurance does not cover repossession anything. It only covers if you wreck the car and owe more than it is worth.


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http://www.autoinsuranceindepth.com/gap-insurance.html Google can find lots of things


What is meant by Georgia gap car insurance?

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Will gap insurance help if your car is repossessed in Arizona?

WHAT "GAP" does it cover?? The gap between your down payment and what the car is worth or the amount you lack to be current with the payments? Read your "GAP" ins. contract to be sure of the coverage. I've never heard of it covering a repo.


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.