What is GAP Insurance? Added Vehicle Protection Plans at North Brothers Ford.
Having GAP Insurance safeguards your vehicle during the early years of an auto loan, as this is a time when your vehicle’s value may amount to less than what was financed. Our finance team at North Brothers Ford can give you detailed information about GAP Insurance at the time of your vehicle purchase. We can help you understand the benefits and if GAP Insurance is right for you.
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GAP Insurance Coverage and How it Protects You
In the event that an accident or theft results in your vehicle being a total loss GAP Insurance will pay the difference between the actual cash value of the vehicle and the current outstanding balance on your loan or lease. GAP Insurance protects you by insuring that your auto loan gets paid. In some certain cases, it may even pay your regular insurance deductible. GAP Insurance usually comes at a fairly small premium, and our experts at North Brothers Ford can help you with GAP Insurance plans on your new Ford purchase.