Is GAP Insurance Worth It?

When it comes time to take home your new vehicle on Cody and Laurel roads, you want to know that you have the right coverage to protect you and your vehicle. While drivers will likely already have the standard car insurance plan required by law, you can also opt for other forms of coverage like GAP insurance. Learn more about GAP insurance and how it can be a major asset on the road from the automotive professionals at Underriner Honda.

Do I Need Gap Insurance?

Since GAP insurance is not required by law, you may be thinking: “Do I need GAP insurance?” While this is coverage is optional, drivers who choose GAP insurance can have even more peace of mind in situations such as:

• Depreciation happens the moment you drive off the dealership lot.
• Accidents can happen at any time, including right after you drive a new vehicle off the lot.
• Most insurance companies only cover what your vehicle is worth at the time of the accident.
• If your new car is totaled or stolen and you owe more on it than its current deemed value, gap coverage accounts for that difference.
• The cost of gap insurance is relatively low, and it is easy to obtain, so there is really no reason NOT to have it.

How Do I Buy GAP Insurance?

When it comes to buying GAP insurance, drivers have several choices of where to obtain it just as if they were shopping around for coverage required by law. You can always turn to dealerships like Underriner Honda to add GAP insurance to your plan, or get it through other avenues such as:

• Your regular auto insurance company may offer it for as little as $20 per year.
• You may be able to buy it for a one-time fee from your car loan company.
• You can get it from a specialized GAP insurance company for a one-time fee.

Discover More Finance Resources at Underriner Honda

Now that you know more about GAP insurance, is it worth it? You can find even more helpful finance features on GAP insurance, how the financing process works, along with additional car buying tips at Underriner Honda. Our finance team is always here to answer your questions and show you our selection of new, used, and certified pre-owned models for sale. Contact us today for more information and to schedule an appointment at our dealership near Red Lodge!