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Gap Insurance Refused To Pay BMW Owner $19,000 Over 60 Cent Clerical Error

Carscoops

A man in Arizona says that his gap insurance denied his claim due to a 60-cent clerical error during the initial purchase. That’s where gap insurance comes in. Gap insurance acts as a financial safety net. When his SUV was recently declared a total loss, he expected his gap coverage to kick in.

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Understanding GAP Insurance: Your Safety Net in Vehicle Financing

Shawn Ryder

If you’re still paying off a vehicle loan, there’s a chance that the insurance payout might not cover the full amount you owe. This is where Guaranteed Asset Protection (GAP) insurance comes into play, providing crucial financial coverage to bridge this gap. What Is GAP Insurance?

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Understanding Dealership Jargon: Terms the Public May Not Know

Shawn Ryder

When you’re dealing with car dealerships, whether buying a new car or getting service on your existing vehicle, you might encounter several terms that aren’t immediately clear. F&I (Finance and Insurance) A department within a dealership responsible for arranging financing and insurance for customers purchasing vehicles.

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