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Why You Need Gap Insurance for Your Car Loan: Explained

Car insurance companies may offer discounts to individuals who complete defensive driving courses.

Car loans are often accompanied by a contract that outlines the terms of the loan.

Comprehensive insurance is a type of car insurance that covers damage to a car caused by factors other than an accident, such as theft or weather damage.

Car insurance may be required by law in some states or countries.

Higher deductibles on car insurance policies typically result in lower premiums.

Car insurance policies may require individuals to notify the insurance company if they make modifications to their vehicle.

Car insurance companies may investigate claims to verify the accuracy of the reported damages.

Car insurance policies may also exclude coverage for damages caused by natural disasters, such as floods or earthquakes.

A car loan may also be refinanced if the borrower's financial situation changes.

Car insurance can be obtained through insurance companies or through a car dealership.

Car insurance policies may include add-ons such as roadside assistance or rental car coverage.

Car insurance can help pay for damage to a car in the event of an accident.

Car loans are often used to purchase new or used vehicles.

Car insurance policies may include terms that prohibit individuals from lending their vehicles to others.

Gap insurance covers the difference between the value of a car and the amount owed on a car loan.

The monthly payments on a car loan are typically made over the course of the loan term.

Car insurance companies may also require that certain repairs be made to a car before a claim is paid.

Car insurance policies can vary in terms of coverage and cost.