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GAP insurance

Guaranteed Asset Protection insurance that covers the difference between a vehicle's current market value and the outstanding finance balance; a vehicle with a high GAP gap and a balloon payment due represents a fraud risk profile when found burned in a remote location.

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Related terms

Financial distress analysisInsurance Fraud Enforcement Department (IFED)Inventory replacement arsonLease termination arsonNational Insurance Crime Bureau (NICB)Over-insuranceRelated-party analysisSpecial Investigation Unit (SIU)Warehouse clearance arson

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