if i have a gap plus policy and wreck my auto and my collision insurance pays the loan off less my 500 dollar deductible does gap plus pay the deductible
Total Comments: 1
Posted: Tue Dec 14, 2010 08:51 pm Post Subject:
Typically, no. Guaranteed Auto Protection covers the difference between your loan principal and the Actual Cash Value of the vehicle when a total loss is involved. If your collision coverage was sufficient to cover the loan (minus your $500 deductible), then you have been indemnified.
Posted: Tue Dec 14, 2010 08:51 pm Post Subject:
Typically, no. Guaranteed Auto Protection covers the difference between your loan principal and the Actual Cash Value of the vehicle when a total loss is involved. If your collision coverage was sufficient to cover the loan (minus your $500 deductible), then you have been indemnified.
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