Do Admiral Offer Gap Insurance
Do Admiral Offer Gap Insurance?
What is Gap Insurance?
Gap insurance, also known as “guaranteed asset protection” (GAP), is a type of insurance that covers the difference between the amount you owe on your vehicle and the amount your insurance company will pay out if your vehicle is stolen or totaled in an accident. This coverage can be invaluable if your vehicle is totaled and you still owe money on it. For example, if you owe $20,000 on a vehicle and it is totaled, you may only receive $15,000 from your insurance company. Gap insurance would cover the remaining $5,000.
Does Admiral Offer Gap Insurance?
Yes, Admiral does offer gap insurance. The company offers a variety of gap insurance policies to meet the needs of different drivers. The policies are available for both new and used vehicles, and you can choose the term of the policy (1, 2, or 3 years). Admiral also offers gap insurance for leased vehicles. When you buy a policy from Admiral, you have the peace of mind knowing that if your vehicle is totaled, you won’t be stuck paying for it.
What Does Admiral’s Gap Insurance Cover?
Admiral’s gap insurance covers the difference between the amount you owe on your vehicle and the amount your insurance company will pay out if your vehicle is stolen or totaled in an accident. This coverage will pay for the remaining balance of your loan if your vehicle is totaled. You will also be reimbursed for any deductible you have to pay. Additionally, Admiral’s gap insurance will pay for up to $1,000 of your rental car expenses while your vehicle is being repaired.
How Much Does Gap Insurance Cost?
The cost of gap insurance varies depending on the type of policy you choose. The cost of a 1-year policy is typically about 1-3% of the value of your vehicle. Admiral also offers discounts for multiple-year policies, so if you plan on keeping your vehicle for a few years, it may be worth it to purchase a longer-term policy. Admiral also offers a variety of discounts for customers who purchase their gap insurance through the company.
What Else Should I Know About Admiral’s Gap Insurance?
Admiral’s gap insurance is offered in all 50 states, so you can purchase a policy regardless of where you live. Additionally, Admiral offers a variety of payment options, so you can choose the one that works best for you. You can also take advantage of Admiral’s 24/7 customer service to answer any questions you may have about their gap insurance policies.
Do Admiral Offer Gap Insurance? – Conclusion
Admiral does offer gap insurance policies to meet the needs of different drivers. The policies are available for both new and used vehicles, and you can choose the term of the policy (1, 2, or 3 years). Admiral also offers gap insurance for leased vehicles, and the cost of a policy is typically about 1-3% of the value of your vehicle. Admiral also offers discounts for multiple-year policies and for customers who purchase their gap insurance through the company. Be sure to take advantage of Admiral’s 24/7 customer service if you have any questions about their gap insurance policies.
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