Imagine this happens: Your car or truck is suddenly totaled or stolen. Gap insurance is there to help to bridge the difference (the “gap”) between what you presently owe on a loan or lease and what ...
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What Is Gap Insurance and Who Needs It?
Insurance companies pay the depreciated value of your car if it’s totaled or stolen, which might be less than your car loan balance. Gap insurance can cover the difference between the vehicle’s value ...
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