What is gap insurance on a car? Why is it something Watertown drivers would need to know? While comprehensive insurance will cover any damage to your vehicle that’s not caused by an accident, gap insurance can help provide you with extra coverage. Learn more about gap insurance with the finance center at Brookings Auto Mall to see if it’s right for you, and visit us for any of your car-buying questions and concerns.
Gap insurance stands for “guaranteed asset protection” and covers the difference — or gap — between your vehicle’s cash value and the amount still owed, whether you have a lease or loan. So, if you’re in an accident on the Brookings roads, gap insurance covers the difference between what your insurance would pay and the cash value of the vehicle.
What is gap insurance on a car? Here is what gap insurance covers if you get into an accident:
It’s important to note that gap insurance doesn’t cover physical injury or property damage. Is gap insurance worth it? Find out when it might come in handy down below.
Now that you know what gap protection is and what it covers, you might be considering if it’s actually worth the money. Most would recommend gap insurance as a way to protect your assets and help your budget as it doesn’t cost that much. Some other benefits of gap insurance include:
How much is gap insurance on a car? If you’re considering getting gap insurance, here are some things to know:
Is gap insurance worth it? For as little as $20, you can get extra coverage on your vehicle that you wouldn’t get from other insurance coverage. For more information on gap insurance or other car-buying information, visit Brookings Auto Mall to get all of your questions answered.
Now that you know what gap insurance is on a car and how it can cover you in the case of an accident, you can take the necessary steps to get yourself extra coverage. Visit us in Brookings or contact us to speak to a team member about your current coverage and other questions and concerns you may have.
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