gap insurance

noun

An optional auto insurance coverage that pays the difference between the vehicle's actual cash value and the remaining balance on the car loan or lease if the vehicle is totaled or stolen.

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Meanings

noungap insurance (countable and uncountable, plural gap insurances)

plural gap insurances

  1. countableuncountableautomotiveAn optional auto insurance coverage that pays the difference between the vehicle's actual cash value and the remaining balance on the car loan or lease if the vehicle is totaled or stolen.
Cite this entry
APA

gap insurance. (n.d.). In WatkinsX Dictionary. Retrieved November 4, 2026, from https://dictionary.watkinsx.com/word/gap%20insurance

MLA

“gap insurance.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/gap%20insurance. Accessed November 4, 2026.

Chicago

WatkinsX Dictionary, s.v. “gap insurance,” accessed November 4, 2026, https://dictionary.watkinsx.com/word/gap%20insurance.

Source: gap insurance on Wiktionary, CC BY-SA 4.0.