2007-02-06 03:03:11 · 6 answers · asked by frank_tanana 1 in Cars & Transportation ➔ Insurance & Registration
This is insurance where:
- you purchase a car for $25K
- and total it
- the insurance company only paid you for $20K
- gap insurance would pay you the $5K GAP
2007-02-06 03:27:24 · update #1
- also, does anyone know of any Canadian providers?
2007-02-06 03:28:30 · update #2
If you are buying a new car, ask your insurance broker about the availability of new car protection. Gap insurance provides the best benefit to the lender, as it only pays the difference between what you may owe and what the vehicle is worth. New car protection covers the vehicle for the complete replacement cost up to your bill of sale and all taxes. In Manitoba, gap insurance is sold with your financing. New car protection is sold with your insurance.
2007-02-06 15:19:41 · answer #1 · answered by Fred C 7 · 0⤊ 0⤋
1
2016-09-25 07:16:09 · answer #2 · answered by Ronny 3 · 0⤊ 0⤋
I know in Alberta there is Waiver of Depreciation available if you are the original owner and the car is less than 36months old. Basically it guarantees you the purchase price if it's totalled.
Other than that I don't know
2007-02-08 18:02:47 · answer #3 · answered by RB 2 · 0⤊ 0⤋
GAP insurance, also called VSI (Vendor's single interest) to protect the lender is available world wide.
2007-02-06 03:12:31 · answer #4 · answered by oklatom 7 · 0⤊ 0⤋
It is, but in my opinion is not a good deal for must people unless they owe more on their car than the car is worth.
2007-02-06 03:22:54 · answer #5 · answered by Wendy S 4 · 0⤊ 0⤋
go to http://www.gap-insurance.com and see if they have anything regarding foreign coverage. It's a phone call away.
1-888-222-0078
2007-02-06 03:56:53 · answer #6 · answered by rob1963man 5 · 0⤊ 0⤋