Lilah Butler, Car Insurance Writer
@lilah_c
Yes, Kemper offers gap insurance for approximately 5% of the car's physical damage premium. Kemper gap insurance pays the difference between your car’s actual cash value and your remaining loan or lease balance if the vehicle is stolen or totaled. However, you will be responsible for paying a deductible.
Kemper gap insurance is usually a better investment than purchasing this coverage from a dealership, where the cost is often added to your loan/lease balance and charged interest. You can cancel Kemper gap insurance once your car is worth more than your loan or lease balance.
If you want more information, you can check out WalletHub’s complete guide to gap insurance.
People also ask
How do I know if I have gap insurance?
To find out whether you have gap insurance, check your existing car insurance policy and the terms of your loan or lease. Drivers can get gap insurance through their insurance company as an add-on or separately through their auto lender, so it’s important to look for gap coverage in the list of coverages provided by both.
How To Know If You Have Gap Insurance
1. Check with your car insurance company.
You...
read full answer by WalletHub, Financial CompanyWhat states is Kemper available in?
Kemper offers coverage in all 50 states, as well as the District of Columbia, and underwrites more than 4.8 million insurance policies. Kemper is headquartered in Chicago and offers property and casualty insurance.
Key Things to Know About Kemper
- Kemper offers auto insurance coverage in all 50 states.
- Kemper has been in operation since 1990 and is currently headquartered in Chicago.
- Kemper has an A+ from the Better Business Bureau....
How long does it take for gap insurance to pay?
Gap insurance takes 5-45 days to pay the policyholder after a claim is filed. For drivers to receive a gap insurance payout, the car first needs to be declared a total loss, and the insurance company needs to accept the claim.
State laws also dictate how long an insurance company has to pay for a claim. For example, insurers in Texas must pay within five days after accepting a claim. Some other states, like...
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