GAP insurance, or “guaranteed auto protection” insurance, is a kind of debt cancellation agreement. Read on to learn what this term means, and when it may be a smart investment for you as a driver. Let our expert authors spell out the facts you need on GAP insurance.

GAP Insurance: 10 Questions to Ask Before Buying Guaranteed Auto Protection Insurance

GAP Insurance: 10 Questions to Ask Before Buying Guaranteed Auto Protection Insurance
By Lori Mandell

If you travel to London and ride the tube, you will invariably hear the friendly British- accented voice telling you to “mind the gap” every time you get off the train.  The gap she is referring to is one between the train and the platform that can catch the heel of your shoe as you are stepping off the train.  That kind of gap cannot be filled, so you have to be extra careful not to get caught in it.  The kind of gap for which they sell insurance is something that can be filled, so you can rest easy and not worry about it.

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GAP Insurance: What Is Gap Insurance And Why Do You Need It?

GAP Insurance: What Is Gap Insurance And Why Do You Need It?
By Lori Mandell

Most of us are not lucky enough to be able to fork over cash for a new car.  We are forced to put down what money we can, and take a loan for the rest.  But it’s worth it for those new wheels, right?  If your downpayment is a small one, (usually under 20%), your monthly payments are sizable due to high interest rates, or you are leasing the car, you will want to consider purchasing gap insurance.

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