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No, GAP Insurance covers the difference between the market value of the vehicle the insurance company pays you after a total loss and what you owe to the financial institution.

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โˆ™ 2009-08-26 20:35:44
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Q: Does gap insurance cover repossession in the state of NY?
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Will gap insurance covers repossession in the state of FL?

Gap insurance will not cover repossession in any state or territory of the US. Repossession is not a valid claim for insurance. In fact, it is possible your insurance could be cancelled as a result of the repossession, making you high risk.


Does gap insurance cover a repossession?

Gap insurance only pays if the vehicle is totaled in an accident or stolen and not recovered. It does not cover the deficiency balance after a repossession sale.


Does gap insurance cover the remainder of a loan from a voluntary reposession of a vehicle?

Gap insurance does not cover repossession anything. It only covers if you wreck the car and owe more than it is worth.


What types of services does medicare gap insurance cover?

It is true that a medicare gap insurance could cover some of the extra expenses that you have. However, it will not cover ALL of your extra expenses.


What does automobile gap insurance cover in Anchorage, AK?

i am not certen


What does Gap insurance use for in Illinois?

What is Illinois gap car insurance? Is insurance you can purchase to cover the gap between the cost of repaying your car loan and the amount the insurance company will actually give you for your totaled car.


What does gap cover?

GAP insurance will pay the difference between what your car is worth and what is owed on the loan.


Is it necessary to have gap auto insurance in New York State?

In New York state it is necessary to have gap auto insurance. It is the seller's legal responsibility to include gap auto insurance in the cost of leasing the vehicle.


Does State Farm offer Ohio gap car insurance?

According to various sources State Farm doesn't offer gap insurance. Gap insurance is usually offered through the dealership when you purchase your car.


What are the details of Florida GAP insurance?

Since your insurance might not cover the balance you still have on your financed car, GAP insurance protects the balance of your loan in the event of an accident.


What is meant by Georgia gap car insurance?

Gap insurance in a second policy that augments your original plan. In the case of cars, if your current plan doesn't cover theft, you can get a 'gap' plan that does.


Does gap insurance cover theft?

Yes, But only if there is a gap in the final loss payment by the underlying auto insurance policy. If there is no underlying Auto Insurance theft coverage then the Gap Policy is null and void and no coverage would ensue.

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