When planning to buy a vehicle, it’s important to have a plan in place to safeguard your investment. This is where insurance comes in.
However, in some instances, your own policies won’t provide enough coverage, which is why Honda gap insurance is highly recommended.
Why Is Gap Insurance Essential?
Gap insurance offers coverage in the event that your car is stolen or totaled in an accident. While your collision or comprehensive policies may be able to help, they may not be enough to cover everything. While usually optional, gap insurance is something all car buyers should strongly consider. And if you plan to lease a car instead of buy, this insurance is usually mandatory.
How Gap Insurance Works
Let’s say you purchase a vehicle for $20,000. You pay off $5,000 and still owe $15,000. You get into an accident and the car is a total loss. Then you find out that the vehicle – due to depreciation – is valued at $13,000. Your collision policy will take care of that $13,000, but what about the remaining $2,000? Gap insurance will cover it.
Get More Information About Gap Insurance
To learn more about gap insurance and how to safeguard your car, get in touch with Heritage Honda Westminster. We can give you all of the information you need about various protection options. In addition to insurance, these include maintenance and wear and tear packages, and even coverage when any warranties expire.
?And if you want to start the financing process, you can begin now by filling out our online application to get pre-approved for a loan. Once submitted, one of our financing professions will be in touch to discuss the next steps.
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