Most Recent Auto Insurance Articles in Gap Insurance

• Let GAP Insurance Take Care Of Your Worries

  by Ricky Lawrence

  If you bought a vehicle and have met an accident shortly after purchase, are you sure that your full coverage car policy will shoulder all the expenses?  Many are unaware that the value of your automobile automatically goes down by as much as 30% the moment it is driven out of a dealer’s shop. For instance, you paid $5000 for the total $25,000 price of the car, but you encountered an accident a month later where your vehicle was totaled. … (more) December 20, 2009

• Stay Safe and Worry free with Gap Insurance

  by Ricky Lawrence

  Many drivers make the unfortunate mistake of not educating themselves about gap insurance. The most difficult part of this is that regrets come with a lot of hefty expenses – to think that these expenses could have been avoided if the driver concerned just took the time to know what gap insurance is all about. Thus, what is this type of insurance really all about? This type of insurance actually provides protection and coverage – the kind that a traditional … (more) December 17, 2009

• Getting to the Details of GAP Insurance Coverage

  by Ricky Lawrence

  Did you ever wonder what would happen if you wreck your brand new car or vehicle a week after it was purchased? How about a month after? A lot of car owners think an accident a year after an auto purchase is not possible. Unfortunately, reality is not like that. Your car can get in a wreck the moment it drives out of the dealership. This is the reason why you should have Guaranteed Asset Protection, more commonly known as … (more) December 14, 2009

• Closing The Gap With Gap Insurance

  by Ricky Lawrence

  When getting a car lease, the common question that you often ask is: “What if my car encounters an unexpected vehicular accident?” When this happens, insurance should be able to take care of all incurred damages, so that should be one problem solved. However, since car manufacturers still assume ownership of leased cars, technically speaking, they can easily demand payment for any form of damage that their car suffered from. It is under this scenario where gap insurance and its … (more) December 12, 2009

• What Is Gap Insurance

  by Ricky Lawrence

  Guaranteed auto protection or gap insurance is coverage for the difference between the actual loan amount and depreciated value or current worth of a vehicle which is the honored assessment by insurance companies. You will likely need this coverage in the following circumstances: •    You buy a car and your down payment was not substantial, lacking at least 20% to as much as 50%; •    Your car is financed for more than four years; •    You are leasing an auto; … (more) December 11, 2009

• Get Covered with Gap Insurance Whether for Loaned or Leased Car

  by Ricky Lawrence

  Even if you have fully paid for the amount in a lease contract of your vehicle, when an accident happens and the car becomes beyond repair, you are still responsible in replacing the unit. It is true that an insurance provider will pay for it, but not the entire amount. It will only pay for its depreciated value while the leasing company will hold you accountable for the amount still owed from a dealership. The same goes true for loaned … (more) December 9, 2009

• Why You Need A GAP Insurance Coverage?

  by Ricky Lawrence

  A lot of car owners get into situations where they may need Guaranteed Asset Protection insurance coverage, more commonly known as GAP insurance coverage. However, not a lot of people actually know what this coverage is for. This is the type of coverage that covers what your regular auto insurance policy may not. Learning more about this insurance coverage and why you may need it can save you a lot of cash and headaches in the future. In what situations … (more) December 7, 2009

• Why Get Gap Insurance?

  by Ricky Lawrence

  Imagine that you finally bought the car you had dreamed of after finally getting a loan for it. Everyone notices your new car and you become the center of attention. Then on your way home, you end up colliding with another car and the worst part is that the person who hit your car has no insurance. After a month from buying your car, it has now become a big metal heap. Why do you need to get gap insurance? … (more) December 6, 2009