Why GAP Insurance Exists for Local Drivers

If you are wondering why you should get GAP insurance when you already have insurance, there is an excellent reason why. Since your insurance company will only cover the value of your car and not what you owe in car payments, you should get GAP insurance to make sure that you don't end up with a massive bill if your vehicle is stolen or totaled.

For example, if your car is valued at $40,000 by Kelley Blue Book, that's what your insurance company will pay. If you owe more than that in car payments, they will expect you to cover the rest. This could mean that you have to come up with thousands of dollars out of your pocket.

If you think that you need to get GAP insurance or have more questions about it, be sure to get in contact with us at Rhinebeck Ford Inc. to find out more! As your local Rhinebeck solution for reliable finance and service advice, there aren't many dealerships who can support you like our staff can!

Categories: News, Finance

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