Traditional GAP provides the first layer of protection

Covers the shortfall between the remaining loan balance on the vehicle and the settlement you may receive from your insurance company. This essentially puts you in a break-even situation but you will still need to replace your vehicle.


GAP Insurance. What it covers?

GAP insurance is an optional, add-on car insurance coverage that helps drivers cover the “gap” between the amount owing on their car and the car’s actual cash value (ACV) in the event of a motor vehicle accident.


Author's Bio: 

Blerina Laska