Are you in the market for a new vehicle this Christmas?
Here are 4 Things Bright Insurance wants you to know about Gap insurance.
-Despite what some commercials will tell you a standard auto policy will give you the current value of your car if you are in an accident and the vehicle is deemed a total loss.
-Gap coverage is an endorsement that can be added onto a new or existing policy when you purchase a new vehicle.
– In the event of a total loss Gap coverage will bridge the “gap” between what is owed on a loan or lease and the depreciated value of your totaled vehicle.
– Gap coverage is a minimally priced coverage that can make a HUGE difference in the worst case situation if you total your new vehicle. There are some exclusions to this coverage, and some older vehicles may not qualify for this coverage.
Call your Customer Service Rep for more information about protecting your new car with Gap coverage.