GAP insurance is an additional insurance cover for newer cars that you can add to your collision insurance policy. GAP insurance policy helps you pay out the difference between the loan on your car and what the collision insurance pays you if your car is a total loss.

How It Works

Supposing you buy a car that costs you around $25,000 years later you file a collision claim; then your insurance company alerts you; you are only eligible to $20,000. After a deductible of 500 on your car, your insurance will pay out $19500 to your lien holder. You still owe $24,500 that leaves you with a difference of $5,000.

Guaranteed asset protection covers you in the early years when you still have a loan or a lease on your car. For fair offers on your GAP insurance cover contact us or pay us a visit at Audi Fairfield.

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