What is GAP Insurance?

What is GAP insurance and how does GAP insurance work? GAP Insurance stands for Guaranteed Asset Protection Insurance, which is a service that covers the difference between the value of the model and the balance still owed on the vehicle. When you want to apply for coverage, be sure to speak with our finance center, where we can answer any questions you might have about anything including GAP insurance.

Learn more with our finance tips if you would like more information on how to buy a car such as how to refinance an auto loan.

What Else Does GAP Insurance Cover?

So what does GAP protection actually cover? Apart from covering the difference between the vehicle’s value and the amount owed, GAP insurance covers a wide array of incidents to cover and protect you and your family on Loveland and Mason roads. Our collision insurance covers bodily injuries, mechanical repairs, and/or your deductible, in addition to:

• Theft
• Fire
• Vandalism
• Accidents
• Nature damages (tornado, hurricane, flood, etc.)

Having this type of insurance is quite handy when it comes to covering a great deal of features that simply won’t be covered under regular insurance. You’ll never know when you’ll need it, so it is best to talk with your car insurer to prepare yourself with GAP insurance.

Is GAP Insurance Worth It?

We strongly believe that GAP insurance is absolutely worth talking with your auto insurance company about. GAP Insurance means having a new level of protection when something out of the ordinary happens such as the theft of your vehicle. Since your vehicle depreciates the second you drive off the lot, the insurance will cover the GAP between the worth of your vehicle and what your insurance will cover in case you get in an accident.

How Can I Get GAP Insurance?

You can get GAP insurance through your auto insurer or someone who deals explicitly with auto coverage. If you decide to get covered, it can cost as little as twenty dollars a year plus the one time fee at the time of purchase.

If you are ready to fully insure your vehicle, contact our finance center near West Chester. Our knowledgeable staff is standing by to help you with any questions or concerns you might have.