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If your vehicle is totaled, your standard auto insurance policy will reimburse you for its current value, which could be less than the amount you owe on the loan. Web gap insurance in florida works the same way as gap insurance in the rest of the u.s., by paying the balance remaining on your car loan or lease after a.
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Web gap insurance in florida works the same way as gap insurance in the rest of the u.s., by paying the balance remaining on your car loan or lease after a liability, comprehensive, or collision claim pays out the actual cash value of your totaled vehicle. Most cars lose 20 percent of their value within a year of purchase. Web.
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Web gap insurance is not required in florida, but drivers in the state may need to buy it to get a lease or auto loan. Web with gap insurance, your provider will pay the difference between your car’s actual cash value (acv) and the amount you owe on your auto loan or auto lease. Web gap insurance is designed to.
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