Financially.site – Gap insurance, also known as guaranteed asset protection insurance, is a specialized form of auto insurance coverage that helps protect you from financial loss in the event that your vehicle is declared a total loss or stolen.
It covers the gap between the actual cash value of your vehicle and the amount you still owe on your auto loan or lease.
In this comprehensive guide, we will explore the key aspects of gap-insurance, including its benefits, coverage options, factors affecting premiums, and how to choose the right policy for your needs.
What is Gap Insurance?
Gap insurance, or guaranteed asset protection insurance, is a type of auto insurance that provides financial protection when your vehicle is totaled or stolen and not recovered.
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