What Is Gap Insurance, And Who Needs It?

Provided by: Progressive Casualty Insurance
Topic: Software
Format: HTML
When you purchase a new car, you'll probably be asked if you want to purchase gap insurance. Both lenders and auto insurance companies offer gap insurance to customers as a way to protect you against unforeseen financial losses. This paper explains about gap insurance and who needs it. Gap insurance literally covers the gap between what you owe on a car and what it's worth if your car is totaled in a covered loss, such as an accident or theft.

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