You have a lot of things on your mind when you buy a car. Financing is going to be the biggest concern, obviously, but there are also a lot of little things to consider. One not so little thing you will have on your mind is insurance. Every car needs to be insured and protected.
Insurance is something that you need, but you hope you will never have to use it. Used cars present a particularly tricky problem for drivers. Most dealerships will offer and suggest purchasing gap insurance to go along with your regular insurance. What exactly is gap insurance? Is it worth it?
How Does Gap Insurance Work?
One of the biggest parts of any car’s lifespan is depreciation. Your car will lose value the moment it leaves the dealership lot. Often times, drivers will end up owing more on a car than what it’s worth. Normal insurance will cover that depreciated value, but if you owe more than the car is worth you can be left out to dry. Gap insurance is the best way to protect yourself from having to pay out of pocket.
Gap insurance steps in to cover what regular insurance doesn’t. It gives drivers the peace of mind to know that if there is an accident, then they won’t be on their own. Insurance normally pays the current market value of a car when you make the claim. If you don’t have gap insurance, then whatever is left over falls into your lap. Gap insurance is a great security blanket to have for your car.
Gap Insurance Programs in Grand Junction, CO
If you’re looking to add gap insurance to your car, then stop by Carville’s Auto Mart. You can also call ahead with any questions and we’d be more than happy to help however we can.