When you buy any vehicle, you’re likely making a significant investment in one of your most valuable assets — often second only to your home. Like any investment, it’s extremely important to protect yourself against any risks involved in your purchase. Purchasing guaranteed assets protection — or GAP — insurance is one of the best ways to do just that. GAP insurance covers the difference between a vehicle’s total loan balance and its cash value, protecting you against costs associated with a stolen or totaled vehicle. And while GAP insurance is available from various insurance outlets, there are some distinct advantages to getting your GAP insurance directly through the dealership.
Auto insurance companies typically charge deductible payments when you file a claim. When you get GAP insurance through the dealership, you don’t have to worry about the added cost of paying deductibles.
Doesn’t impact insurance rates
Generally speaking, the more claims you make against an auto insurance company, the higher your insurance rates will climb. This isn’t the case when you buy GAP insurance directly through the dealership, which saves you money and makes filing claims less of a hassle.
No risk of cancellation
Auto insurers can cancel your insurance policy if you make too many claims, leaving you without coverage. At Tropical Ford, we won’t cancel your GAP policy because of any claims you make.
Freedom to switch insurers
When you buy GAP insurance from Tropical Ford, you can switch auto insurers at any time without losing your GAP coverage, letting you drive with peace of mind knowing you won’t lose your coverage just because you want to switch insurance carriers.
High coverage limits
Often, auto insurers place a lower coverage cap on GAP policies than we do at Tropical Ford. Visit us today to speak with a finance specialist to learn more about the benefits of getting GAP coverage.
Have more questions? Contact us or visit Tropical Ford to learn more about GAP coverage.