What is Gap Insurance?

 
 
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What is GAP insurance on a car? GAP Insurance stands for Guaranteed Asset Protection Insurance, and it covers the difference between the value of the vehicle and the balance still owed on it. Learn more about GAP insurance coverage below, and contact us at the Jaguar Mission Viejo finance center with any questions. Then apply for financing online at your local authorized Jaguar retailer to get started on buying a car in Coto De Caza.

 

What Does GAP Insurance Cover?

What is GAP protection? This car insurance coverage pays out the difference between your vehicle’s value and the amount you owe on the car in the event of an accident that results in a total loss, or other such incidents:

  • Theft
  • Fire
  • Vandalism
  • Accidents
  • Acts of nature (tornado, hurricane, flood, etc.)

However, it does not cover the following: bodily injuries, mechanical repairs, or your deductible.

When regular car insurance won’t cover all of these unexpected incidents, buying GAP insurance can provide you additional peace of mind on Laguna Beach roads.

Is GAP Insurance Worth It?

Is it worth it to purchase GAP insurance? When you purchase a new vehicle, it definitely is. Having GAP insurance means protecting your vehicle investment when something out of the ordinary occurs, like the theft of your vehicle. And since cars depreciate the second you drive off the lot, this insurance will cover the “gap” between the worth of your vehicle and what your insurance will cover if you get into an accident.

If you purchase a used car, it won’t depreciate as much when you leave the lot, so it may not be needed. And if you’ve purchased a vehicle new and you’ve had it for a few years, the need for GAP insurance will likely decrease over time.

 

How Can I Get GAP Insurance?

There are several options for purchasing GAP insurance, and it can cost as little as $20 a year plus a one-time fee at the time of purchase with any of these services:

  1. Through your regular car insurance company. Some plans with comprehensive and collision coverage already include GAP insurance, so check your policy.
  2. Through the car dealership when you purchase your vehicle.
  3. Through a company that specializes in GAP insurance.

 

Rely on Jaguar Mission Viejo for Your Auto Loan or Lease

If you’re ready to purchase a new vehicle with GAP coverage, rely on Jaguar Mission Viejo near Irvine. Our knowledgeable staff is standing by to help answer any questions you may have.

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(949) 429-0312

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28701 Marguerite Parkway • Mission Viejo, CA 90069

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Jaguar Mission Viejo

28701 Marguerite Parkway Mission Viejo, CA

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Phone: (949) 429-0312

28701 Marguerite Parkway Mission Viejo, CA

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Phone: (949) 359-4945

28701 Marguerite Parkway Mission Viejo, CA
33.5460654 -117.6720421
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Jaguar Mission Viejo
Jaguar Mission Viejo
28701 Marguerite Parkway
Mission Viejo, CA, 90069 United States
https://di-uploads-pod6.dealerinspire.com/jaguarmissionviejo/uploads/2019/07/Jaguar-OpenGraph.jpg
Jaguar Mission Viejo 33.5460654, -117.6720421.