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What is gap insurance?

Auto Blog

Filed under: Car Buying , Insurance , Ownership Continue reading What is gap insurance? What is gap insurance? Please see our terms for use of feeds. originally appeared on Autoblog on Wed, 29 May 2024 14:50:00 EDT. Permalink | Email this | Comments

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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. Standard car insurance, like collision and comprehensive coverage, will pay you the car’s current market value if it’s totaled in an accident or stolen. That’s where gap insurance comes 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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Is GAP Insurance Worth It? Understanding Coverage for Your Vehicle’s Value and Loan Amount

Shawn Ryder

What is GAP Insurance? If you’re thinking about buying a car, you may have come across the termGAP Insurance” But what exactly is it? This is where GAP Insurance comes in. GAP stands for Guaranteed Asset Protection. GAP stands for Guaranteed Asset Protection.

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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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Navigating Inflationary Pressures on Vehicle Ownership: A Guide for Auto Dealers

AutoSuccessOnline

The key inflationary impacts to vehicle ownership include purchase prices, interest rates, maintenance, repairs, insurance and fuel costs. Insurance Costs : Auto insurance premiums have soared, with Bankrate noting an average cost of $200 per month. This represents about 16% of the median household income.

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Is Your F&I Product Lineup Balanced & Diversified?

AutoSuccessOnline

Traditionally, F&I products such as Guaranteed Asset Protection (GAP) insurance, ancillary products and vehicle service contracts have been tailored to the needs of gasoline-powered vehicles. GAP Insurance: Depreciation is an inevitable reality of vehicle ownership, and gasoline and hybrid-powered vehicles are no exception.