Now Available: Auto Loan/Lease Gap Coverage
We are excited to announce a new enhancement endorsement (CA2071) available on all AIG Automobile Policies to provide Loan/Lease Gap Coverage. The coverage will, in the event of a total loss to a vehicle, pay the difference between the loan/lease payoff and the loss settlement amount.
Example: You owe $40,000 on the vehicle lease/loan and the total loss payment equals $35,000. The endorsement entitles the insured to the $5,000 difference.
If you have any questions on the above please do not hesitate to contact our underwriting department at (800) 852-1968.
Special Notice: We have revised our Movers Choice Supplemental Application, please use it for all future new business submissions.