What Is Gap Insurance?

November 13th, 2018 by

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What is gap insurance? Simply put, gap insurance, or Guaranteed Asset Protection Insurance, protects your new Acura car by covering the value of the model and balance still owed at the time of trading in if it’s a loan or even if it’s a lease.When you want to apply for coverage, or if you just want to learn more, contact us at Acura of Huntington where our finance center can help answer your questions.

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What Does Gap Insurance Cover?

What is gap protection? Aside from covering the difference between your vehicle’s value and the amount you owe left, gap insurance offers Syosset drivers a wide variety of protections, such as:

  • Theft
  • Fire
  • Vandalism
  • Accidents
  • Nature damages (tornado, hurricane, flood, etc.)

This type of coverage is helpful to supplement regular insurance.

Is Gap Insurance Worth It?

The simple answer is yes! Gap insurance protects your vehicle and investment when you run into unexpected issues, like theft or unforeseen damage. Because your vehicle loses value after you leave the lot, this type of insurance covers the “gap” between what your vehicle is worth and what insurance will cover if you get in an accident.

How Can I Get Gap Insurance?

You can get gap insurance through your auto insurer whether that’s through your dealership of choice or a business that deals explicitly with auto coverage. If you decide to get covered, it’ll cost as little as $20 a year plus the one-time fee at the time of purchase.

Learn More at Acura of Huntington

For more information, stop by Acura of Huntington! our finance department is here to help you answer any questions you may have, and you can contact us with any questions. Rely on us for help answering other questions like whether driving barefoot is illegal.

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