Do you realize how much you are at risk financially if you wreck your car or it gets stolen? Your auto insurance policy might not provide all the financial protection you need, if the value of your car is less than the balance of your auto loan. Gap coverage is designed to cover the difference between the value of your car when it was lost and the balance of your car loan.
Life Insurance Why Does The UK Have A £2.3 Trillion Protection Gap?
According to Swiss Re, one of the world’s largest re-insurance companies, less than half of the UK population has any form of life insurance protection. They then go on to put a figure on the value of this protection gap. Using an average income of £20,000 and assuming that the value of protection needed ranges between 5 and 10 times income, they put a value on the protection gap at £2.3 trillion.
But in all probability, whilst the gap is huge, £2.3 trillion is likely to …
Auto Insurance Which Type Is Right For You?
Auto insurance is a form of insurance available to consumers who own cars, trucks and other vehicles. It covers the insured party against the risks involved in owning or driving a vehicle