What is Gap Insurance?
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A little bit depends on the company of how they do the coverage, but what gap insurance mainly does is say you have a car that you own, and the value of it is $10,000, but you have a $12,000 loan still on the car, what gap insurance will do is pay the difference between what the car’s worth and your loan.
You do have to pay a premium for that, so best thing to do is see what the cost for the gap insurance is.
So if you have any other questions give us a call at New Frontier and we will be sure to answer those for you.
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