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Home > Terms > English, UK (UE) > GAP Insurance
GAP Insurance
There are two options, 1. Finance GAP Insurance is an insurance policy designed to cover the difference between the amount owed to the Finance company and the insurance payout received in the event of a vehicle being written off as a total loss. 2. Invoice GAP Insurance is an insurance policy designed to cover the difference between your insurance payout and the invoice price you paid for the vehicle in the event of a vehicle being written off as a total loss.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: Auto loans
- Company: Mercedes-Benz
- Product:
- Acronym-Abbreviation:
Other Languages:
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