Collision protects you and your car if you are in an accident, liability protects whomever you may hit.
No. If a car is determined to be a total loss as a result of a collision, GAP insurance pays the difference between what the collision coverage pays as the actual cash value of the car and the outstanding loan balance.
So called gap insurance covers only the difference between the value of your vehicle and what you owe to the bank. It offers no other protections such as personal injury & liability, or collision.
If you don't opt for this cover, then when a calamity does strike, you will end up paying from your pocket. for More
Liability coverage in auto insurance helps pay for damages and injuries you cause to others in an accident, while collision coverage helps pay for damages to your own vehicle in a crash, regardless of fault.
Gap insurance is intended to indemnify you for the difference between the amount that you owe on a vehicle at the time of a collision, and the actual cash value that you would collect if the car were rendered a total loss from that collision. Without it, you would be personally liable to the lender or leasing company for that amount.
difference of motor and marine insurance
Collision covers damage from collisions only, whether it is a fender-bender in the parking lot, running into the garage, or a traffic accident. Comprehensive covers damage "other than by collision", that would be hail, flood, vandalism, windshield pits, etc.
Difference between h03 and h05 home owners insurance?
collision is when two plates collide conservative is when two plates rub together
Friction
the difference between a warranty and insurance, is a warranty is when you can return it to either get another or to just return it. insurance is when you have coverage over the object or living being.
In an inelastic collision, kinetic energy is not conserved and some energy is lost as heat or sound. In an elastic collision, kinetic energy is conserved and no energy is lost.