What is GAP Insurance and Do I need It?

GAP insurance is not required in Florida but it may be a condition to financing or leasing an auto. GAP may be purchased from the dealer, the finance company or auto insurance company. Gap insurance helps pay off your auto loan if your car is totaled or stolen and you owe more than the car’s depreciated value. Gap insurance helps pay the gap between the depreciated value of your car and what you still owe on the car to the finance company.

If you’ve been injured in an accident, contact an experienced personal injury lawyer immediately. For a free case evaluation, call the Miami Legal Firm at 305-265-2265

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