When someone’s car is stolen or written off, their car insurer will generally pay out the market value of the car. Some people buy Guaranteed Asset Protection (“GAP”) insurance to cover the difference between this market value and either the cost of a new car, or what’s left to pay back on their car finance.
We hear from people who say their GAP insurance hasn’t protected them as they’d expected. Some people feel they shouldn’t have been sold it at all. And others are unhappy with how long it’s taking to get the money they’re owed.
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