What Is Gap Protection and Why Do You Need It?

Did you know that you can add gap protection to your daily driver for as little as $20 each month? It makes sense that you’d want to keep your car covered and protected after spending a large sum of money on it, but sometimes there are gaps with your insurance company that is left uncovered.

There is often a gap between what you paid to purchase the vehicle and the actual value of the vehicle. If the vehicle gets stolen or destroyed then you’re out the money that spans that gap.

The good news is that you’ve found the right place to learn more about the types of insurance that are perfect for protecting your vehicle when the worst happens. Keep reading this article to learn more!

What Is Gap Protection?

Gap protection, or gap insurance, is protection that you can get from your insurance company. It covers the difference between the cash value of your car and the loan amount. It’s the perfect way of protecting your vehicle and yourself if your car gets stolen or totaled.

Some cars depreciate quicker than others, so do your research to find out if your vehicle is a good candidate for this type of auto insurance. It’s a cheap addition to your monthly insurance payments and it could end up saving you thousands of dollars if some unfortunate event happens.

If you decide that protecting your vehicle is a big priority for yourself and your family then you should look into getting this coverage from your car insurance company. It’s much cheaper than getting it from the dealership.

Benefits of Gap Protection

There are a number of benefits that you’ll get when you decide to pony up the extra money for gap protection. If you financed your vehicle in order to purchase it then it’s a good idea to inquire about gap protection as it will save you money if you total your car.

It’s also a wise move if you plan on leasing a vehicle and want some additional protection. If you plan on moving and want to take your vehicle with you then you should look into this car shipping cost calculator in addition to other ways of protecting your vehicle.

Another big benefit that you can expect from adding gap protection to your auto insurance is the peace of mind that you’ll have when you’re behind the wheel. Buying a new car is a big investment, and gap protection will take some stress out of your life after making a big down payment.

Consider Getting Gap Protection Today

A big part of owning a motor vehicle is getting and maintaining auto insurance coverage. Gap protection is a great option for protecting your vehicle as well as your finances since it covers the gap between the cash value of your car and the loan balance. You’ll get peace of mind in the event that your car gets stolen or totaled.

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