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No, California law prohibits gap insurance from being required. It is an optional coverage type for qualifying vehicles but is banned from being required as the condition of a loan or auto sale ...
Vehicle insurance in the United States. Vehicle insurance in the United States (also known as car insurance or auto insurance) is designed to cover the risk of financial liability or the loss of a motor vehicle that the owner may face if their vehicle is involved in a collision that results in property or physical damage.
Per state law, all drivers must carry at least the minimum coverage amount for liability insurance to financially protect themselves and other drivers on the road, which includes the following ...
Allstate: The Allstate gap program waives the difference between a primary auto insurance settlement and the outstanding balance owed on a vehicle. It waives covered losses up to $50,000 and ...
A Japanese vehicle insurance policy issued by the Mitsui Sumitomo Insurance company. Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from ...
A GAP policy covers the difference between the value of a car (i.e., what the insurance company will typically pay) and what the borrower owes on the loan if the car is totaled or stolen. Because most cars lose value as soon as they're driven off the dealer's lot, and most car loans cover more than the purchase price of the vehicle, the "gap ...
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