Gap (Loan / Lease) Coverage:
Should I buy this coverage from the car dealership or my insurance agent?
When you purchase a new car, the dealership will most likely suggest that you purchase Loan Gap or Lease Gap protection. This means that if the vehicle is involved in an auto accident and the vehicle is destroyed, you as the owner or leasee still owe payments on the car. With the Gap Coverage, the insurance company will pay the difference between the Actual Cash Value (ACV) and the Loan or Lease amount up to 125% of the ACV of the gap.
This coverage is available for vehicles less than five years old and carry both comprehensive and collision coverage.
Now, the dealership may charge $100s or $1,000s for this protection. Your insurance company generally charges a lot less! You'd be surprised to find out the difference!
Call your agent to add this valuable coverage onto your auto policy or learn more by calling 1-888-737-6200.
Should I buy this coverage from the car dealership or my insurance agent?
When you purchase a new car, the dealership will most likely suggest that you purchase Loan Gap or Lease Gap protection. This means that if the vehicle is involved in an auto accident and the vehicle is destroyed, you as the owner or leasee still owe payments on the car. With the Gap Coverage, the insurance company will pay the difference between the Actual Cash Value (ACV) and the Loan or Lease amount up to 125% of the ACV of the gap.
This coverage is available for vehicles less than five years old and carry both comprehensive and collision coverage.
Now, the dealership may charge $100s or $1,000s for this protection. Your insurance company generally charges a lot less! You'd be surprised to find out the difference!
Call your agent to add this valuable coverage onto your auto policy or learn more by calling 1-888-737-6200.
