MLchartDataset catalogue

Lease gap coverage

Term · Insurance and risk management · MLC-T-INS-001977

An optional auto insurance coverage that pays the difference between the actual cash value of a leased vehicle and the remaining balance on the lease agreement if the vehicle is stolen or totaled. Without this coverage, the lessee would be responsible for paying the gap out of pocket. This protection is similar to gap insurance for financed vehicles.

Table 1. Record
IdentifierMLC-T-INS-001977
FieldInsurance and risk management
SubjectPersonal Lines
Record as JSON 
{
  "id": "MLC-T-INS-001977",
  "term": "Lease gap coverage",
  "field": "Insurance and risk management",
  "definition": "An optional auto insurance coverage that pays the difference between the actual cash value of a leased vehicle and the remaining balance on the lease agreement if the vehicle is stolen or totaled. Without this coverage, the lessee would be responsible for paying the gap out of pocket. This protection is similar to gap insurance for financed vehicles.",
  "subject": "Personal Lines",
  "url": "https://mlchart.com/terminology/insurance/lease-gap-coverage/"
}

Record 1,900 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.