Why Should I Get GAP Insurance?
Saving You Money - GAP auto insurance could save you money that would otherwise be an out-of-pocket expense. This affordable coverage (amounting to pennies a day) bridges the gap between what you owe and what your insurance company will pay, protecting you from unnecessary risk in the event of an accident.
In the Event of an Accident - Report your claim to your primary insurance carrier. If your vehicle is determined to be a total loss and there is a gap between your settlement and loan balance, please report the claim to the GAP insurance provider. They will make the difference payment to the lender so that your loan is paid off.
Theft - When your vehicle is declared a total loss due to theft, GAP insurance covers the difference between what your insurer gives you as the actual cash value and the amount of your loan.
Insurance Against 'What If?" - Driving a new vehicle without Guaranteed Asset Protection (GAP) Auto Insurance is like putting your faith in the unknown. Your insurance covers damages to your car in the event of an accident, but if your vehicle is declared a total loss or is stolen and not recovered, there's no safety net to protect you from financial hardship.
Depreciation - Within the first few years of ownership, your vehicle will depreciate in value faster than the loan balance. A significant gap can exist between the amount of money your insurance company will pay and the amount you still owe on your loan balance.
Talk to our Webb Hyundai Highland financing specialists about our GAP insurance offerings today.