Do you have gap coverage?

June 13, 2017

If you loan or lease your vehicle, it’s probably a smart idea to take a look at gap coverage. It often isn’t included with your average auto policy, and having it can potentially save you thousands of dollars.

 

Gap insurance covers the difference between the depreciated value of your car and how much you owe on a loan at the time of an accident. So to understand gap coverage, you first need to understand depreciation.

 

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