Results for tag: "Guaranteed Asset Protection Insurance"

Guaranteed Asset Protection Insurance (GAP Insurance) is a type of automotive insurance that covers the difference between the amount owed on a vehicle and the amount that the vehicle is worth at the time of a total loss. It is designed to protect the consumer from the financial burden of a total loss due to theft, accident, or other covered event. GAP Insurance is typically offered as an optional coverage to consumers when they purchase a new or used vehicle. GAP Insurance is typically offered by automotive dealerships, banks, and insurance companies. It is important to note that GAP Insurance is not required by law, and the coverage is typically offered as an additional cost to the consumer. Some companies in the GAP Insurance market include Allstate, Geico, Progressive, State Farm, USAA, and Nationwide. Show Less Read more