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What Is GAP Insurance on a Car?

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After you find the perfect new or pre-owned vehicle for your Pittsford commute, your next steps will be to work with our finance team. During the financing process, you’ll likely be asked if you want to opt for GAP insurance. But, what is GAP protection? GAP insurance stands for guaranteed asset protection insurance, and it’s an added layer of protection when you purchase a new vehicle. It essentially covers the gap between the amount you owe on your vehicle loan and your vehicle’s value.

Let’s say something unfortunate happens to your vehicle and you get an insurance assessment that’s worth less than the amount of money owed on your auto loan, GAP insurance will help cover that amount. So, is GAP insurance worth it then? Today, the experts from Ide VW of East Rochester will help you answer that question! We’re going to go over the following information for GAP insurance:

  • What is covered with GAP protection?
  • Is GAP insurance worth it?

What is Covered With GAP Protection?

GAP insurance is responsible for covering a variety of car-related issues, but it is not a replacement for regular car insurance. Think of GAP insurance as an added layer of protection for when you’re driving around Webster. GAP insurance also does not cover damage to property or bodily injuries. With that in mind, what qualifies for coverage with GAP insurance? Take a look below for more information:

  • Theft
  • Vandalism
  • Accidents
  • Natural occurrences (fire, weather, etc.)

Keep in mind that your GAP insurance policy could vary, so it’s best to confirm with your provider if you’re not sure about the specific terms and conditions.

Is GAP Insurance Worth It on My Next Vehicle?

Now that we’ve answered, “What is GAP insurance on a car?” and what it covers, you may be wondering if it’s right for your Fairport lifestyle. While GAP insurance is certainly not required, it’s definitely recommended. This is because it can provide added peace of mind in case something does happen to your vehicle. Many vehicles depreciate when they leave the showroom floor, and adding GAP insurance can help protect you from that depreciation.

Find Out More About GAP Insurance at Ide VW of East Rochester!

Don’t hesitate to give the finance team at Ide VW of East Rochester a visit if you’re still unsure about GAP insurance. When you work with the experts in our Rochester finance center, you’ll be offered GAP insurance among other things to help protect your investment, such as extended warranties. But, we’ll make sure that you’re fully acquainted with each insurance and protection offering so that you can make an informed decision. To get started, you can reach out to us online!

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