Mind the Gap.. in Coverage

Don't lose value on your loan or lease!

Many times, leased vehicles or vehicles with a lien may require you to hold Comprehensive and Collision Coverage. These coverages are very beneficial to the owner if a covered loss is sustained, as they can pay for needed repairs. 

What happens when a total loss occurs? Usually, your auto carrier promises to pay you the ACV of your vehicle (Actual Cash Value minus depreciation). Notice that this amount does NOT have to match what you currently owe on the vehicle! If you owe $5,000 and the ACV of the vehicle is only $3,000 - You are stuck paying back the extra $2,000 out-of-pocket!

That is where Gap coverage comes in! You may already have this coverage through your loan or lease, but if you do not it is a very important coverage to see added to your insurance policy. 

Is Gap Insurance Worth The Cost?

This affordable coverage could save you thousands!