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You will need to read your GAP insurance information. Like car insurance each plan is different. Some GAP insurance plans state they will pay 100% of the "resale" value. Others state 125% (meaning the current resale value of your car plus 25% above that). Others state 100% of "trade-in" value. Bottom line - read the insurance plan document you got from the company, or visit the car dealership you bought the car from and pick up a pamphlet. Good luck to you!

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Q: Your car is a total loss and pay off is about half of the amount of your loan you carried some from a prior car will your GAP insurance cover the majority or all of the remaining balance of the loan?
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