Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.

An auto insurance policy option that covers you from having to pay the entire balance left on your auto loan or lease, in case an accident totals your vehicle, and any compensation does not cover the [..]

Definition Additional insurance taken out at the time of a normal insurance policy to covered the total value of the item being insured should it not be covered due to depreciation. For example, if Be [..]

In a vehicle lease, insurance that covers any "gap" between (i) the amount the lessees insurance company will pay to the lessee if the leased vehicle is stolen or destroyed, and (ii) the agg [..]

Insurance that covers the difference between a vehicle’s depreciated value in a loan or a lease and the amount owed on it in case it is stolen or totaled, a difference the owner or lessee would otherw [..]

A kind of additional insurance which covers you above and beyond your car insurance payout in the event of a total loss claim on your car (ie – stolen and not recovered, or written off in an accident) [..]

Gap insurance will insure the difference between what is owed on the vehicle and what the insurance company says the vehicles is worth in the event that the automobile is totaled in an accident or stolen and not recovered. For example, if an insurance company claims a totaled vehicle is worth $10,000 and the owner owes $15,000 then gap insurance pr [..]

You are still liable for a loan if a car is written-off. Normal insurance only pays for the value of the car at the time of the accident or theft, which may be less than the amount outstanding on the [..]

If you have an accident or your car is stolen, standard car insurance will only pay out the equivalent value of the car at the time the incident occurred – but you’ll still be liable to pay off any fi [..]

Guaranted Asset Protection - could cover the difference between what an insurance company will pay in the event of vehicle being stolen or written off and the outstanding balance on a finance agreemen [..]

Stands for Guaranteed Auto Protection insurance. Extra insurance for lease customers to cover the difference in the actual value of the vehicle and whatever is owed on the lease. Important if the car is stolen or totaled early in the lease term. It also covers the difference in value between what may be paid by an insurance carrier and what is stil [..]

An automobile insurance option that comes into play when your vehicle is stolen or totaled. Gap insurance covers the "gap" or difference, if any, between your car's actual cash value an [..]

An insurance type that pays out the difference between the amount of money the insurance provider pays out for a written-off or stolen car, and the amount of money originally spent on the car (as long [..]

This is an optional, additional Insurance Policy available. Our most common policy is known as RTIA (Return to Invoice Advanced) which covers the difference between the amount paid by an insurer, following a total loss claim, and the original invoice value of a vehicle. For example, if you purchase a car at £14,000, and within 3 years your car is d [..]

Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan, Some gap policies may also cover the amount of the deductible. H I J K L

Gap insurance

If your leased car is stolen or totaled, your insurance will pay for the damage or loss. It won't help you make payments still owed to the leasing company. Gap insurance covers the gap, between t [..]

If your car gets stolen or written off GAP insurance

Gap insurance will insure the difference between what is owed on the vehicle and what the insurance company says the vehicles is worth in the vent the vehicle is totaled in an accident or stolen. For example, if an insurance company claims a totaled vehicle is worth $10,000 and the owner owes $15,000 then gap insurance protects the owner from havin [..]

 If you are making lease or loan payments and you experience a total loss, there may be a difference (gap) between the market value of your vehicle and what you still owe on it. This optional coverage [..]

A policy to cover any difference (up to £7 500) between the finance outstanding on a vehicle and the sum offered by an insurance company if the car is written off.

If you are making lease or loan payments and you experience a total loss, there may be a difference (gap) between the market value of your vehicle and what you still owe on it. Gap insurance pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. A gap policy may also cover the amount of the deduc [..]

Insurance covering the difference between what is owed on a retail or lease contract and the value of the vehicle upon its loss or destruction.

Guaranteed Asset Protection (GAP) Insurance protects the value if the car is written off or stolen. We've written a guide to GAP Insurance and if it's worth the money.

GAP Insurance pays any additional amount that you owe on a car loan if the vehicle is totaled and the payout from the insurance company is less than what you still owe the bank.  If your vehicle is va [..]

An automobile insurance option, available in some states, that covers the difference between a carís actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or fina [..]

A policy or coverage that comes into play when a vehicle is totaled or stolen. Gap coverage takes over when the amount that is owed to a financial institution exceeds the actual cash value of the vehi [..]

Meant to cover the difference between the insurance company’s assessment of your property’s value and the amount still owed on the property if it has been a total loss. This insurance is most common i [..]

An automobile insurance option, available in some states, that covers the difference between a car's actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing [..]

Optional coverage for the difference in the amount owed on a vehicle and its replacement value. For example, if your car's replacement value is $4,000, but you still owe $5,000 on it and it' [..]

An automobile insurance option, available in some states, that covers the difference between a car’s actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or fina [..]

An automobile insurance option, available in some states, that covers the difference between a car's actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or finance company. Mainly used for leased cars.

An automobile insurance option, available in some states, that covers the difference between a car's actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing [..]

An automobile insurance option, available in some states, that covers the difference between a car’s actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or fina [..]

An automobile insurance option, available in some states, that covers the difference between a car’s actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or fina [..]

Guaranteed Asset Protection (GAP) insurance (also known as GAPS) was established in the North American financial industry. GAP insurance protects the borrower if the car is written off or totalled by [..]