So, what is GAP insurance and what does it cover? When you hold GAP insurance on a car, you’re covered for the difference between the value of the model and the balance still owed on it in the event that the vehicle is totaled. GAP insurance, or Guaranteed Asset Protection Insurance, is optional coverage — but could be very beneficial to you. Learn more about what GAP insurance covers and more with our finance team at Rusnak Auto Group in Pasadena.
What is GAP protection? In addition to covering the difference between the car’s value and the amount you still owe on it, GAP insurance covers a bit more to ensure your protection. While this coverage doesn’t include bodily injuries, mechanical repairs, or your deductible, it will cover:
This coverage can come in handy when regular insurance coverage won’t help with these unexpected inconveniences in or around Pasadena.
In short, yes! Having GAP insurance means you’re protecting your investment when something unexpected occurs, like vehicle theft. And since your vehicle starts depreciating the moment you drive it off the lot, you can have added peace of mind on your Thousand Oaks commutes — because GAP insurance will cover the gap between the value of the vehicle and what your insurance will cover should you get into an accident.
Talk with your auto insurer to see if you can get GAP insurance through them, or if it’s worth it to get coverage through your dealership of choice. If you decide to get GAP insurance coverage, it’ll cost as little as $20 a year (plus a one-time fee at the time of purchase).
Ready to get GAP insurance coverage, or have other questions in the meantime? Contact our teamat Rusnak Auto Group near Westlake Village. Our staff is here to help you get the coverage you need, and answer your car-buying and auto insurance questions.
