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GAP Insurance

GAP Insurance also known as Guaranteed Asset Protection Insurance is a coverage offered by insurance companies to protect your car if it is under finance or a loan.

Gap insurance can cover all sorts of damages and liabilities. For instance, financial loses, damages theft, and shortfall of financial loss, can all be covered for. There are also other reasons such as depreciation.

Though your car insurance policy covers the market value of your asset, it is possible that there is a high outstanding balance in the loan. The difference between them is called the shortfall, and can be very expensive.

GAP Insurance can be purchased through a dealer, a broker, or online. It is very important that you go through the Terms and Conditions, Policies, and Product of Disclosure, before signing up to anything to get a full idea of what you are paying for.




More Insurance Companies

Searching for a good insurance company to join? Consider the following companies as they are currently offering exclusive offers!

NAB Insurance (10% Discount)
NAB is a reliable and trustworthy insurance company that has a good reputation in Australia. Many discounts and bonuses can be offered to customers in ways such as buying policies ...

Virgin Insurance (Free $50 Offer)
Virgin Insurance is a small insurance company that does not include a lot of things. Make sure you go through the Terms and Conditions, Policies and fine prints before signing up. Take ...

QBE Insurance (10% Discount)
QBE is a well known insurance company for offering cheap and competitive quotes for all their insurance premiums and policies. It is a reasonable company that insures most assets ...





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