What Is GAP Car Insurance?
GAP insurance, which stands for Guaranteed Auto Protection, can be a useful tool for those who are looking to purchase or lease a new car. It is like additional protection on top of the usual and basic car insurance policies. For any issues for the first few years of ownership, the insurance will cover all costs. This is helpful for incidences when your usual car insurance policy does not cover costs, or covers only a minim cost, leaving you having to folk out a lot of cash. For instance, in an event of a major car accident.
Prices for GAP insurance is cheap, from $10-$20 extra on top of the basic policy you select. Most car and financing companies do not offer GAP insurance within the basic policy but rather is an additional premium add on.
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