What is a insurance protection gap?

Answer 1

I am assuming you are refering to GAP Coverage.The actual name eludes me but what is, is none other than a life safer.If your vehicle is totaled in an accident it will cover the remaining payments and pay off your vehicle so you are not responsible for the cost.Hope this helps.I have it on my own and would not be without it.It is like any other insurance,you may never need it but when you do, you will be able to sleep at night. Insurance Protection Gap is the difference between what the ACTUAL VALUE of something is, as opposed to what you OWE on it. For example, you car has been wrote off, and you still OWE 5000.00 dollars on it, but it is only worth 4000.00 dollars, the gap is 1000.00 dollars. Hope the helps............