GAP Car Insurance

As you buy a new car from the showroom, its value starts falling rapidly right from very same moment you drive that car off from there. For example if your new vehicle costs you €30,000 and unfortunately you have an accident a month later or two, when you haven’t made a single installment into your loan amount which is close to €30,000, the purchase price of vehicle. Now you expect full coverage from your car insurance which claims comprehensive and collision but you receive the market value of the vehicle which probably is 20% to 30% lower than the purchase price. That 20% to 30% depreciation may be €6,000 to €9,000 on a €30,000 vehicle!

Here GAP car insurance helps you. GAP stands for Guaranteed Auto Protection or simply GAP in coverage between how much you owe on a vehicle and how much it is worth. GAP car insurance is low cost and indispensable. Whether you lease or buy a new car, GAP car insurance is something which you cannot skip to cut down the cost. If you do so to cut down your expenses, then this may cost you more than your  expections. There are some Insurance Companies which gives you a comprehensive coverage with GAP car insurance as well but not all of them offer you the GAP car insurance.

Thank Lord, if your insurance covers the GAP car insurance and if not then you will probably have to consider this right now you’ll have to repent over it later. Most of the companies provide GAP car insurance your one’s could be one of those.  You can contact your insurance company for GAP car insurance but if your insurance does not provide GAP car insurance then you can go for a search on Google or Bing for GAP car insurance, you will find a hundreds of companies providing GAP car insurance, because you don’t know what may happen when you sit on your car next time.