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Buying a new car in Georgetown or Cameron can seem like a daunting prospect, especially if you’re worried about your car being financially underwater at the time of an accident. Gap insurance coverage can help! What is gap insurance on a car? This add-on when buying a new car covers the difference, or gap, between what your insurance company will pay for your vehicle and what you owe on it. Is gap insurance worth it? See for yourself with the Nyle Maxwell CDJR of Taylor finance team.
Gap protection, otherwise known as Guaranteed Asset Protection insurance, pays out the difference between the cash value of your car as stated by your insurance company and any amount of money you still owe on your vehicle. Whether you owe money on a lease or loan, gap protection can help mitigate the financial risks associated with driving a car or getting into a collision.
Once you know what gap insurance is on a car, the next question you’ll probably ask yourself is whether or not gap coverage is really worth it. Most finance and insurance experts agree that purchasing gap insurance can be well worth it for the following reasons:
Looking to buy gap protection for your new or used vehicle? Here are some ways to get it:
Here at Nyle Maxwell CDJR of Taylor near College Station, we’re gap insurance experts! If you have any questions about purchasing gap coverage or any other F&I products, be sure to contact us online or call us at 512-218-5300. We’re here to help you with all your automotive needs!
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