Lease Gap Coverage

1 minuteread by Gary Huddleston

Lease Gap Coverage — optional coverage available by endorsement to a commercial auto policy that applies to increase the amount of recovery in the event of a total loss to a covered auto that is subject to a loan or lease agreement and the amount of outstanding indebtedness on the auto is greater than what the insured could recover under actual cash value (ACV) or cost to repair or replace.

1 minuteread by Gary Huddleston

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