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What is GAP Insurance?
Guaranteed Asset Protection (GAP) Insurance covers the gap between what you owe on your auto or motorhome loan and its current market value.
If you’re in an accident and your insurance company decides your vehicle or motorhome is totaled (also called “total loss”), your collision coverage:
Will only pay you the current market value.
Won’t cover any amount you may still owe on your loan.
GAP insurance is not always must have for every car loan it depends on loan program.
Call us now for more information 201-426-0222