GAP Car Insurance - What if I only have liability coverage?

Question

Will GAP still pay if I only have liability coverage?

Answer 1

Here is a quote from a gap provider's website: "Automotive Loss Protection eliminates the financial gap between what your primary insurance company's settlement is and the actual loan payoff to your bank, credit union, or finance company" "When your primary insurance carrier says that your car is total loss, you provide XXX Automotive Loss Protection Claim Department with a copy of the police report along with a copy of your insurance company's settlement check" With only liability coverage, you will get no cheque from your insurance, so there is no payment for the gap policy to top up. Here is also an answer page from carinsurance.com
http://www.carinsurance.com/kb/content17666.aspx

Answer 2

1

Answer 3

Nope. GAP coverage would be useless if you only had liability coverage. You couldn't even buy it -- at least not from a reputable agent anyway.

GAP coverage pays the difference between the balance of a lease or finance contract and the ACV on a collision or comprehensive claim if a vehicle is a total loss. If you have liability coverage only, there would be no payment for physical damage on any claim since there is no coverage on the vehicle itself.

Answer 4

you're growing to be to be a complicated time proving the driving force who became already legally interior the using lane has fault in a collision with a motor vehicle entering right into a moving line of site visitors. in case you're judged at fault, this is not significant in case you settle for duty in any respect, they might declare on their coverage which then claims out of your coverage. became a cost ticket issued by using the interior sight constabulary? Or have been they even consulted. If no longer, the coverage companies are unfastened to make their very own selection of fault based on your fact which you have been decrease off, and his in all probability fact which you got here out of nowhere and drove into him.

Answer 5

Most likely not...part of having GAP means you carry comp/collision. But you have to check with your GAP insurer b/c only they can answer your question.

Answer 6

No, but by the way you ask that question, I can tell you are very sexy. I hope this helps.