Gap Insurance: 13 Essential Facts Before You Buy Gap insurance can help address a specific financial problem that may occur when a financed or leased vehicle is declared a covered total loss. The problem is simple: The amount owed on the vehicle can be higher than the amount the primary auto insurer pays for the … Read more
Uninsured Motorist Coverage: 13 Essential Facts for U.S. Drivers Uninsured motorist coverage can help protect eligible drivers and passengers when an at-fault driver has no applicable auto liability insurance. That makes it different from ordinary liability coverage. Liability coverage generally helps protect other people when the insured driver causes a covered accident. Uninsured motorist coverage … Read more
Florida Auto Insurance Quotes: 13 Smart Checks Before You Buy Florida auto insurance quotes can vary significantly even when several insurers appear to be covering the same driver and vehicle. The reason is simple. One quote may have lower liability limits. Another may use a higher deductible. Another may include uninsured motorist coverage while another … Read more
How Much Is Gap Insurance? 11 Cost Factors to Know For drivers financing or leasing a vehicle, how much is gap insurance is usually one of the first questions that comes up. The short answer is that the price can vary significantly depending on where the coverage is purchased. Recent U.S. market data suggests that … Read more
Gap Insurance Auto Loan: 11 Smart Checks Before You Buy A gap insurance auto loan arrangement may help when a financed vehicle is declared a covered total loss and the regular auto insurance settlement is lower than the eligible amount still owed on the loan. That situation can happen because vehicle values and loan balances … Read more
If you finance or lease a vehicle, what’s gap insurance is an important question to answer before choosing coverage or signing financing paperwork. The simple answer is this: Gap insurance may help with an eligible difference between what you still owe on a financed or leased vehicle and what your primary auto insurer pays after … Read more
Gap auto coverage may help protect a driver from an eligible financial shortfall when a financed or leased vehicle is stolen or declared a covered total loss and the insurance settlement is lower than the qualifying balance still owed. The basic idea is simple. Imagine: Eligible loan payoff: $30,000 Covered insurance settlement: $25,000 Potential gap: … Read more
The regular auto insurance policy generally handles the insured vehicle loss first. GAP protection may then help with an eligible difference between the covered insurance settlement and the qualifying amount still owed on the vehicle. For example: Eligible loan payoff: $30,000 Covered insurance settlement: $25,000 Potential gap: $5,000 A qualifying GAP product may help address … Read more
Gap auto insurance may help with one very specific financial problem: you finance or lease a vehicle, the vehicle is stolen or declared a qualifying covered total loss, and the eligible amount you still owe is higher than the primary auto insurance settlement. For example: Eligible loan payoff: $30,000 Covered insurance settlement: $25,000 Potential shortfall: … Read more
Choosing between liability vs full coverage auto insurance is really a decision about whose losses your policy may help pay. Liability coverage mainly addresses injuries or property damage you cause to other people. The package commonly called full coverage usually adds collision and comprehensive protection for your own vehicle. The right choice depends on state … Read more