What is GAP Insurance?

GAP insurance is a good idea no matter how you slice it. GAP insurance protects your financing institution, and, more importantly, GAP insurance protects you and your money. That is a win-win situation if I have ever heard one.

More specifically, GAP insurance is insurance to cover the difference between what your car is worth and what you still owe to your financing institution. Should the worst happen and your car gets totaled, is no longer usable, GAP insurance will cover that remaining balance so that you can get yourself another working vehicle that much faster. Whoever is financing your car, whether it be a dealer, a bank, or an independent lender, will usually offer you a GAP insurance policy when you apply for a loan, although GAP insurance is available from your primary insurance as well. Most people get it from the dealer, or whoever is lending them money.

If you're interested to learn more about GAP insurance before settling on a new model from our dealership, then plan your visit to 1600 Yellowstone Avenue in Pocatello to get started!

Categories: News, Finance

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