Purchasing a new car requires you’ll have to take good care of financing and insurance. There are a lot of optional insurance coverages you can get, but gap insurance is one of the most important. What does gap insurance cover? What does gap insurance do? In the simplest terms, it covers the gap between the amount you owe on the car and the true cash value of the car when an accident occurs. Pepe Auto Group will answer your question of, “What does gap insurance cover,” and help you finance your car too.
Gap insurance in Yonkers and New Rochelle covers a range of issues that pertain to your vehicle. You should know that it covers damage to your vehicle only and doesn’t cover property or bodily injuries. Gap insurance covers an accident, theft, fire, vandalism, and inclement weather.
Gap insurance does not cover the deductible, engine failures and other mechanical failures, death, and extended warranties.
As a quick answer to, “What does gap insurance do,” gap insurance covers total loss in the event of an accident. It’s worth having a chat with your insurance company about the benefits of having gap insurance. If you’re a car shopper who’s focused on safety and wants to keep protected no matter what happens, it’s a good idea to consider gap insurance as part of your insurance portfolio.
As a short answer: you don’t need gap insurance. Still, you’re going to want to consider gap insurance when purchasing a new car and going over the various insurance options you have. Gap insurance is most helpful if the dealership offers a plan that includes deductible coverage. Having gap insurance will give you peace of mind as you head around town on your many Stamford-area adventures.
No matter what stage of the purchase process you’re in, it’s important to think about all your options. Thankfully, with Pepe Auto Group helping you out, you’ve got a great team backing you. We’re the people to talk to about all things finance and insurance. From White Plains to Yonkers, we can help you out. Contact us today!
