No matter if you're in the market for a new model or you're interested in a CPO vehicle from our inventory, you'll need to keep in mind that there are different insurance coverages to go over. Gap insurance is one you may want to opt for when buying a vehicle. So, what does gap insurance do? Simply put, gap insurance is designed to bridge the gap between the amount you owe and the value of the car in the event of an accident. Our finance team can help you determine the best terms and length of your loan, as well as answer any questions you may have on gap insurance.What Does Gap Insurance Cover?
As mentioned above, gap insurance covers the gap between the amount you owe and the value of the car in the event of an accident and is typically used to cover damage to your vehicle. Your standard car insurance policy would cover things like property damage and bodily injury. To be more specific, here are the things covered and not covered by gap insurance:Gap Insurance Covers
Gap Insurance Typically Does NOT Cover
- Acts of nature (in the event of a tornado, hurricane, flood, etc.)
- Deductible (however, some gap insurance policies do allow for this)
- Engine failures and other mechanical malfunctions/repairs
- Extended warranties
Gap insurance comes in handy when driving off in a new vehicle as you don't know when an accident could occur. Gap insurance is an optional coverage option, however, it can definitely bring a certain peace of mind in those early months of car ownership.Do I Need Gap Insurance?
So what does gap insurance do and do I need it? This coverage option isn't required by law. Gap insurance is generally categorized as the kind of insurance no one ever wants to need, but when it is needed, you will be glad you have it. Ready to invest in gap insurance? Our finance team
is standing by, ready to assist you with getting insured quickly and easily.Contact Our Finance Team for More!
Once you're ready to get behind the wheel, get in touch
with the Salt Lake Valley Buick GMC team. With our new and used vehicle specials
and capable finance team, we'll help you save more on your favorite model and set you up with the coverage you need.