First Automotive Gap Coverage. The automobile gap insurance means that in a case when your loaned vehicle has been totaled or stolen, the insurance company is going to help you pay back the money. Guaranteed automobile protection (gap) is a type of coverage that can pay off your loan balance if you have an accident with your vehicle.
You can also purchase gap insurance from your dealership, but that’s almost always more. When your loan amount is more than your vehicle is worth, gap insurance coverage. According to the iii, you may want to consider gap insurance in the following situations:
Gap insurance is an optional auto insurance coverage that applies if your car is stolen or deemed a total loss.
Gap insurance is an optional car insurance coverage that helps pay off your auto loan if your car is totaled or stolen and you owe more than the car’s depreciated. If your auto loan is 60 months or. The dealer may offer you gap insurance when you buy your car, but it will be less expensive as part of your auto insurance policy. Losing a car can be a stressful and difficult time for your customer, especially if their loan balance is higher than the cash value of the car.