What Is Gap Insurance?

Man Holding Car Keys

What is GAP insurance on a car? GAP, which stands for Guaranteed Asset Protection, is insurance that covers the difference between what your vehicle is currently worth and the remaining amount you still owe on it, regardless of whether it’s on a loan or a lease. When you want to apply for coverage, or if you simply hope to learn more, contact us at your local Phoenix Jaguar Chandler where our finance center can help answer your questions.



What Else Does GAP Insurance Cover?

What exactly does GAP insurance cover? In addition to covering the difference between your vehicle’s current value and the amount you owe on it, GAP insurance actually covers quite a bit more. Rather than covering bodily injuries, mechanical repairs, or your deductible like more typical insurance options you may be aware of, it covers:

  • Theft
  • Fire
  • Vandalism
  • Accidents
  • Natural damage (tornado, hurricane, flood, etc.)

Having this type of coverage is important when more common insurance options don’t cover these additional unexpected things that could occur right here in Gilbert.

Is GAP Insurance Worth It?

Absolutely! You never know when you’re going to need it— so if you want the peace of mind and incidental coverage, GAP insurance is worth it for you. It’s importance coverage to have for things like weather incidents that are out of your control. Plus, since a vehicle depreciates the second you drive off the lot, if you get in an accident this insurance will cover that GAP between the current worth of your vehicle and what your standard insurance will cover.

How Can I Get GAP Insurance?

Drivers can acquire GAP insurance from your auto insurer whether that’s through your chosen dealership or a third party that deals explicitly with auto coverage. If you do decide to get GAP insurance coverage, it can cost as little as $20 a year, in addition to a one-time fee at the point of purchase.

Learn More at Jaguar Chandler

If you’re ready to purchase and insure your new vehicle, contact our finance department here at Jaguar Chandler near %%target city 3 %%. Our knowledgeable staff is ready to help answer any questions you may have, including how to calculate your interest rate, value your trade-in, or get GAP protection.

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855-424-2340

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7470 West Orchid Lane • Chandler, AZ 85226

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Jaguar Chandler

7470 West Orchid Lane Chandler, AZ

Phone: 855-424-2340

http://maps.google.com/?q=7470%20WEST%20ORCHID%20LANE%20%E2%80%A2%20%2C%20AZ%20%2C%20CHANDLER%2C%2C%20AZ%2085226

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Phone: 855-431-9951

7470 West Orchid Lane Chandler, AZ

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Phone: 855-424-2340

7470 West Orchid Lane Chandler, AZ

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7470 West Orchid Lane Chandler, AZ
33.3235347 -111.9711539
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Jaguar Chandler
Jaguar Chandler
7470 West Orchid Lane
Chandler, AZ, 85226 United States
855-424-2340
https://di-uploads-pod12.dealerinspire.com/jaguarchandler1/uploads/2017/12/JaguarChandlerOGImage.png
Jaguar Chandler 33.3235347, -111.9711539.