What is SUSTAINABLE GAP?
In the state of Alabama GAP Insurance has a bad reputation because of the many rate increases the plans have had historically. Some companies have been moved to different insurance companies or different Third-Party Administrators 5 or 6 times in the past 6-7 years. Many well-intended brokers have blamed the carriers or the TPA’s for the rate increases and worked hard to find a carrier that promises they will not give a rate increase. What we are continuing to see is carriers over promise and then give a rate increase in a year, or two at most.
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