Gap insurance is the insurance to cover the difference between the cost to repair your car and the amount you owe on your car, also known as the “gap”. If you have a loan or lease, you may want to consider gap insurance. If your car is “totaled”, this insurance will help you pay off what you owe on your loan/lease. Generally, this type of insurance is sold at the time you are financing your can loan or lease. Some lenders may require you to have it to be eligible for a car loan
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