What is Gap Insurance on a Car?

Not sure what GAP insurance is? GAP Insurance (Guaranteed Asset Protection Insurance) covers the difference between the value of the model and the balance still owed on it. Interested to apply for coverage? Want to know more about what GAP protection is? Continue reading below, or reach out to us at Walt Massey Chevrolet Lucedale for more information!

What Does GAP Insurance Cover on a Car?

So, what is GAP protection exactly? You already know that GAP insurance covers the difference of your car, truck, or SUV’s value and the amount you owe on it. Although GAP insurance doesn’t cover your deductible, mechanical repairs, or bodily injuries, it does in fact cover:

• Nature Damages (Tornado, Hurricane, Flood, etc.)
• Accidents
• Vandalism
• Fire
• Theft

Should I Invest in GAP Insurance?

Yes! GAP insurance protects your vehicular investment when something unexpected happens, such as grand theft auto. You’ll also want to take into consideration that your vehicle depreciates in value as soon as you drive it off our lot and back to your Mobile, AL home. Fortunately, this type of insurance will cover the GAP between the worth of your vehicle and what your insurance will cover if you get into an accident on Biloxi, MS roads.

How Do I Get GAP Insurance?

Now that you know what GAP insurance is, it’s equally important to know how to secure GAP insurance. You can typically get GAP insurance through your auto insurer. Whether you obtain it through a business that deals explicitly with auto coverage or a Pascagoula, MS area dealership is up to you. Keep in mind that if you get covered, it’ll cost as little as $20 per year plus the one-time fee at the time of purchase.

Get Financial Consulting at Walt Massey Chevrolet Lucedale in Lucedale

Ready to fully insure your new Chevrolet car, truck, or SUV against the unexpected? Then you’ll want to get in touch with the specialists in our Lucedale Finance Center. Our savvy consultants will answer any remaining questions you may have, provide you with up-to-date finance & insurance information, and break down each element of GAP insurance as it currently exists.