Gulf: Residual Value Business Description
Covers losses resulting from the difference between the adjusted residual value (adjusted for excess mileage and wear and tear) and greater of sales price or Black Book Wholesale Average
Per Vehicle: Same as full coverage with agreed upon deductible applied to each claim (e.g. $500)
Aggregate: Same as full coverage with insured retaining a deductible equivalent to a % of the total insured residual value
Per Vehicle: Same as full coverage with a substantial percentage of residual value applied as a per vehicle deductible
Aggregate: Excess coverage above specified aggregate attachment point for a specific pool of vehicles over multiple years