Guaranteed asset protection insurance
Guaranteed asset protection insurance (or GAP Insurance) is an
insurance coverageoffered as a supplement to automobile insurancepolicies. It provides financial protection from certain types of loss that are not covered by standard automobile insurance.
GAP is designed to cover the unpaid balance of an automobile
loanin the event of a total loss of the vehicle. GAP covers the difference between the depreciated actual cash value of a lost vehicle and the outstanding loan balance on the vehicle. The coverage may also include payment of the physical damage deductible.
* Office of the [http://www.insurance.wa.gov/factsheets/factsheet_detail.asp?FctShtRcdNum=25 Insurance Commissioner] , Washington State - GAP Insurance
* [http://www.buygapinsurance.com BuyGapInsurance.com]
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