Gap insurance means gap insurance as defined in the regulations;
Gap insurance means insurance coverage, offered by an insurer authorized to transact business in this state, that pro- vides that another person is liable for the gap amount.
Gap insurance. (Gap-Versicherung) shall mean an insurance entered into by a Debtor in respect of the financing of the acquisition of a Financed Vehicle by such Debtor by way of accession to a group insurance agreement (Gruppenversicherungsvertrag) between the Seller in its capacity as insurance policy holder and an insurer which covers the risk that loss is incurred if the relevant Financed Vehicle has to be completely written off (Totalschaden) due to fire, accident (irrespective of whether such accident was caused by the Debtor or a third party), flooding or theft, such loss being an amount equal to the difference between the original purchase price paid by the Debtor for such Financed Vehicle according to the relevant Loan Contract and the then current market value of such Financed Vehicle or the replacement cost of such Financed Vehicle at such time, taking also into account a certain value-based compensation. The Gap Insurance is subject to certain exclusions. For instance, no coverage is provided if the insured event has been caused by a deliberate act (vorsätzlich) of the insured person and only limited coverage is provided if the insured person has acted with gross negligence (grobe Fahrlässigkeit). The contribution owed by the Debtor for the accession to the Gap Insurance is added to the Principal Amount owed by the Debtor as part of the Loan Instalments under the Loan Contract to which the Debtor is party;
Examples of Gap insurance in a sentence
Employer's Liability ("Stop Gap") insurance, and if necessary, commercial umbrella liability insurance with limits not less than $1,000,000 each accident for bodily injury by accident or $1,000,000 each employee for bodily injury by disease.
Failure to submit a monthly invoice is considered noncompliance and will result in sanctions as specified in Section 2.9. Unless otherwise instructed by OCS, invoices are due by the 10th day of the month following the monthly billing period noted on the invoice and must be submitted on approved OCS forms.
This calculation is for the employer's (ER) portion of the health premiums, including health, dental, vision, short-term disability, long-term disability, and Gap insurance.
Employer’s Liability (Washington Stop Gap) insurance shall be provided in amounts as specified below.
A deferred payment may reduce any Gap insurance claim on insured vehicles or loans.
More Definitions of Gap insurance
Gap insurance means any insurance or other agreement with a consumer which provides payment to cover the difference, if any, between the insurance payout for the vehicle and the outstanding principal in the event that the vehicle is stolen or declared a total loss.
Gap insurance means the policy or policies of insurance issued by Agricultural Excess and Surplus Insurance Company in the form attached hereto as EXHIBIT D or such other insurance as satisfactory in form and substance to the Banks.
Gap insurance means property insurance that covers all or a portion of the difference between the recovery received on primary automobile insurance in the event of a total loss and the MSRP of a current year replacement vehicle or the difference between the recovery on a primary automobile insurance policy and an outstanding loan or lease obligation in the event of total loss.
Gap insurance means Guaranteed Asset Protection; an insurance product offered to hire purchase customer that provides cover for financial shortfall between the amount received from Comprehensive Motor Insurance Policy and the Original Vehicle Invoice Price in the event of total loss or theft.
Gap insurance means a policy of insurance that insures the difference between what a consumer owes on a car loan and any amount they may receive under a policy of comprehensive insurance if the car is a total loss.
Gap insurance means those guaranteed asset protection insurance products provided by the CCPH Group or any member of the Buyer's Group which are currently being marketed by GMAC UK plc through (inter alia) Restricted GM UK Dealers being 'Purchase Price Refund Gap', 'Equivalent Vehicle Purchase Refund' or any other guaranteed asset protection products branded 'ValueGuard';
Gap insurance means insurance covering the gap amount which is payable upon the total loss of personal property, which is the subject of a lease or loan or other credit transaction occasioned by its theft or physical damage. The kinds of gap insurance are: