fag 1. n. Chiefly British. 1. a. A student at a boarding school who is required to perform menial tasks for a student in a higher grade. b.A drudge. 2. Fatiguing or tedious work; drudgery.v. fagged, fagÂ·ging, fags. v. tr.. Chiefly Brit. drudgery; toil. 3. Brit. a younger pupil in a British public school required to perform certain menial tasks for an older pupil. 4. a drudge. 5. to tire or weary by labor (often fol. by out). 6. Brit. to require to do the menial chores of a fag.
GAP Insurance is the difference between the actual cash value of a vehicle and the balance still owed on the financing (car loan, lease, etc.). GAP coverage is mainly used on new and used small vehicles (cars and trucks) and heavy trucks. Some financing companies and lease contracts require it.
This not only puts them in a tight financial situation but could also negatively affect their ability to purchase a new vehicle. GAP Protection is a unique program designed to protect them by covering what traditional auto insurance insurance does not.