Compare auto insurance

Michael : This was a good information on GAP car insurance. Please let me know if there are any exclusions in this so that I can compare auto insurance quotes correctly and get the right coverage.

Response : Michael, I am glad you  liked my note and information on GAP insurance. I have been in this field for over 2 decades and I love talking on it at any time of the day.  I know insurance can be very baffling for most people since there are many things tide together. 

A review of GAP policies shows remarkable similarity in both coverages and exclusions. Notable exclusions include the following:

Overdue lease/loan payments

Financial penalties imposed under a lease for excessive use

Security deposits not refunded by the lessor

Costs for extended warranties, credit life insurance, or other insurance purchased with the loan or lease

Amounts deducted by the primary insurer for wear and tear, prior damage, towing, and storage

Carry-over balances from previous loans or leases

Equipment added to the car by the buyer, meaning that only factory-installed equipment is covered

You must  quickly note that “GAP” may still leave a gap in one’s financial obligations once the exclusions are applied. Hope this helps you in comparing auto insurance quotes.

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