GAP coverage definition

GAP coverage means a contract or insurance policy that covers a consumer's deficiency balance between the net payoff of the consumer's loan retail installment sales contract at the time of a loss and the amount paid by the consumer's primary insurance after a vehicle is deemed a total loss due to any direct or accidental physical damages or unrecovered theft which may be in the form of the following:

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GAP coverage means a contract or insurance policy that covers a consumer’s deficiency balance between the net payoff of the consumer’s loan retail installment sales contract at the time of a loss and the amount paid by the consumer’s primary insurance after a vehicle is deemed a total loss due to any direct or accidental physical damages or unrecovered theft which may be in the form of the following:

GAP coverage means insuring, guaranteeing, or

Examples of GAP coverage in a sentence

If Buyer chooses to have GAP coverage, Buyer will request the coverage and will pay the fee.
Credit Life Insurance, Credit Disability Insurance and Debt Cancellation Coverage (GAP Coverage): If you indicated in Section B that you want optional credit life insurance, credit disability insurance or debt cancellation coverage (GAP coverage), or any combination thereof, you agree to pay for such insurance at the premium shown in Section B.
Credit life insurance, credit disability insurance and debt cancellation coverage, which is also known as GAP coverage, are not required to obtain credit, and will not be provided unless you sign and agree to pay the additional cost.
If any insurance, warranty, service contract, GAP coverage, debt cancellation, debt suspension or other product or service (each an "Additional Product”) is offered or sold by or through Dealer in connection with any Financing Transaction, Dealer shall take any and all necessary action to cause such Additional Product to become effective, and shall comply with all applicable law governing disclosure, offering, sale, or any other matters to be performed by Dealer in connection with such Additional Product.
To report claims for GAP coverage, You may contact the Administrator, Comprehensive Auto Resources Company, Inc., at ▇.▇.
INSURANCE AND DEBT CANCELLATION: Credit life insurance, credit disability insurance and debt cancellation coverage, which is also known as GAP coverage, are not required to obtain credit, and will not be provided unless you sign and agree to pay the additional cost.
Refer to your GAP Policy for specific terms and conditions on your GAP coverage.
Rock shall provide the Services for all Vehicles and all vehicle-related goods and services offered by Vroom, including financing, GAP coverage, service contracts, extended warranties, and wheel and tire coverage (collectively, the “Value-Added Products”).
Seller shall pay the cost of the cost of any transfer or documentary tax imposed by any jurisdiction in which the Property is located, the base premium for the title policy and the cost of the extended coverage (GAP coverage) endorsements to the title policy, the updated survey, the attorneys’ fees of Seller, and all other costs and expenses incurred by Seller in closing and consummating the purchase and sale of the Property pursuant hereto.
You may be able to obtain GAP coverage from Your Primary Carrier.

More Definitions of GAP coverage

GAP coverage means coverage for medical malpractice risks of the District’s Federally Qualified Health Centers not covered through the Federal Tort Claims Act,

GAP coverage means insuring, guaranteeing, or indemnifying owners of real property or others interested therein, against loss or damage suffered by reason of matters appearing of record in the office of the clerk

GAP coverage means a contract or insurance policy that covers a consumer's deficiency balance between the net payoff of the consumer's loan retail installment sales contract