The amount of money you will receive from your car insurance company should your car be either written-off or stolen will only be as high as the vehicle’s current market value. This, though, may be less than the outstanding amount that you still owe your finance company. Scenarios such as this have brought a type of insurance known as Guaranteed Asset Protection – or gap insurance – into being. A GAP policy covers the difference between your vehicle’s market value and the amount you paid for it.
Top Speed – Speed up your life safely!
From professionals about car insurance, loan, travel tips from all over the world.Archive
Tag: CarInsurance
Car insurance is important for a number of reasons. Without car insurance you could get a ticket which is not cheap. If you do not have insurance on your car you could also end up paying a lot of money to fix your car if you are in an auto accident. If you hit someone else’s car and you do not have car insurance it will be up to you to pay to fix their car. If you do not pay to fix the other person’s car you could end up getting sued.
