Is GAP Insurance Necessary?

Imagine totaling your car in a bad accident. You call your insurance company and they later inform you that they will only be giving you a check for the current market value of the car. This can be a huge problem and you may be stuck paying a good amount of your own money.

These types of situations are when GAP insurance, or Guaranteed Asset Protection insurance is very important. GAP insurance will cover the difference in what your insurance company pays and how much you owe on your car loan. GAP insurance can be bought at the dealership at the time of purchase of your vehicle.

Now, is GAP insurance necessary? The answer is no, it is not completely necessary but it is a very wise investment. GAP insurance may save you a lot of money in the event that your car is totaled. Why risk it? Stop by Schrier Automotive today to learn more about how GAP insurance can save you financially in the event of a car crash.

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