Know the Difference that GAP Insurance Bridges

GAP is an optional insurance you can purchase to protect you if your car is in an accident, declared a total loss and the value of the car is less than what is owed on loan. If the loan is for more than what the insurance will pay, you are on the hook for the remaining balance. Fortunately, our team at Wynne Ford is here to prevent that from happening.

There are some misconceptions about this insurance and what it covers versus what it does not. Many drivers have attempted to use their GAP insurance for things such as car payments in the case of financial hardship, auto repairs, money owed on a repossessed vehicle, a down payment on a new car, and rental cars. These are not the only restrictions, but just a few that people have tried to claim. It's always best to educate yourself on the benefits and constraints when purchasing an insurance policy. When you're ready, you can learn more about where GAP insurance can fit into your coverage at 1020 West Mercury Blvd today!

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