What is Gap Protection?

Guaranteed Asset Protection, or gap insurance, covers the difference between the cash value and the amount you still owe on your vehicle. Gap insurance is applicable to vehicles that are financed or leased. 

If you are in an accident driving around Stephenville or a natural disaster damages your vehicle, gap insurance covers the costs between what you owe and what your car is worth. It’s built to cover the in-between space of what your insurance will pay and the cash value of your car. Gap insurance is not coverage for property damage or physical injury. Below we have listed out the kind of coverage Brownwood drivers can get:

Gap Insurance Coverage:

• Theft or vandalism
• Accidents
• Acts of nature (tornado, hurricane, flood, etc.) and fires

Our finance team is here to help you. Give us a call if you have more questions about what gap insurance covers for you. 

Is Gap Insurance Worth It? 

There are a number of levels to your car insurance policies, and different coverage options. When you purchase your new vehicle from Bayer Auto Group of Comanche you may be curious about what options are best for you. Comprehensive insurance coverage is set up to cover any damage that occurs in everyday situations. So, what is gap protection? Gap insurance is structured to protect for extra costs in between what your vehicle is worth and what you owe on it. 

Is gap insurance worth it? Many insurance companies recommend purchasing gap coverage, because of the potential savings and low payment costs. Knowing what is covered in the possibility of unforeseen issues is a security that many people want. You can contact our finance center at Bayer Auto Group if you want more specific information for your vehicle. 

Do I Need Gap Protection?

Gap insurance is an optional coverage, and is recommended as a form of protection for your assets and your budget. It is recommended for these reasons: 

• Your vehicle depreciates in value as soon as you drive off the lot. 
• Accidents occur all the time and are unpredictable. One can occur the day after your drive out of the lot or months later. 
• Oftentimes, insurance company’s coverage only goes up to the current worth of your vehicle at the time of the accident. 
• If your car is totaled or stolen and you still owe more than the current value, gap insurance will protect you and cover the difference. 
• Gap insurance plans are low cost and relatively easy to purchase in Abilene

I Want Gap Insurance. How Do I Buy it?

There are several ways to get gap insurance coverage in the Comanche area. 

• Many auto insurance companies have costs of as little as $20 per year for gap insurance.
• Your dealership or loaning agency may offer gap insurance along with other vehicle coverage. 
• If you purchase your insurance through a company specializing in car insurance, they may provide gap insurance for a one-time fee. 

Come to Bayer Auto Group to Discuss More

Now that you know a bit more about the additional coverage of gap insurance, you can find the vehicle that is right for you, and know that you are protected. Search through our online inventory at Bayer Auto Group, then schedule a test drive. You can also explore our car buying tips and vehicle specials to save you some money. Our team is always here to help you through the car buying process.