What is Gap Insurance?
What is gap insurance on a car? Gap Insurance, or Guaranteed Asset Protection Insurance, covers the value of the model and the balance still owed on it at the time of trading in no matter if it’s a loan or lease. When you want to apply for coverage, or if you just want to learn more, contact us at Ray Brandt Chrysler Dodge Jeep Ram Fiat where our finance center can help answer your questions.
What Else Does Gap Insurance Cover?
What is gap protection? Apart from covering the difference of your vehicle’s value and the amount you owe on it, gap insurance covers a lot more to protect your vehicle. While it doesn’t cover bodily injuries, mechanical repairs, or your deductible, it covers:
- Nature damages (tornado, hurricane, flood, etc.)
Having this type of coverage comes in handy when regular insurance won’t cover all of these unexpected inconveniences. You never know when you’re going to need it, so it’s better to be prepared with gap insurance.
Is Gap Insurance Worth It?
Absolutely! Having gap insurance means protecting your vehicle investment when something out of the ordinary occurs, like the theft of your vehicle. And since your vehicle depreciates the second you drive off the lot, this insurance will cover the Gap between the worth of your vehicle and what your insurance will cover if you get into an accident.
How Can I Get Gap Insurance?
You can get gap insurance through your auto insurer whether that’s through your dealership of choice or a business that deals explicitly with auto coverage. If you decide to get covered, it’ll cost as little as $20 a year plus the one-time fee at the time of purchase.
Learn More at Ray Brandt Chrysler Dodge Jeep Ram Fiat
If you’re ready to fully insure your new vehicle, contact our finance department at Ray Brandt Chrysler Dodge Jeep Ram Fiat near Marrero. Our knowledgeable staff is standing by to help answer any questions you may have.
More from Ray Brandt Chrysler Dodge Jeep Ram Fiat
Gretna truck enthusiasts will now find they have two options to choose from: the All-New RAM 1500 and the RAM 1500 Classic. While this is exciting news for drivers, this also has them wondering the difference between the two models. Today we are comparing the most noteworthy differences in price, performance, capability, and features of…
Conventional wisdom dictates that buying a used model will be a less expensive option than purchasing a brand new vehicle, but that isn’t the only benefit of buying used. See what other advantages are awaiting you if you decide to make a used vehicle yours. Contact Us Benefits of Buying Used With vehicles being built…
Looking for a Used Ram 2500? Head to a Dealership Close to Metairie, LA One of the many great things about the Ram 2500 is you can purchase a used model and still have a safe and reliable ride. Even better, when you head to a dealership not far from Metairie, LA, you will discover…