Typically, gap insurance tacks an extra 5 to 6-percent onto your comprehensive\/collision premium if you purchase it through your insurance company. You may also be able to purchase gap insurance for a one-time payment due at the signing of your car loan. In this case, the cost is typically rolled into your loan. But do you really need it? Following are four reasons why you need gap insurance in Woodstock, GA. <\/p>\n
Upside Down Loan<\/strong><\/p>\n Many people owe more than their car is worth. This is especially true if it’s a new car. Once you drive off the lot, the value of your car drops drastically. Gap insurance protects you if you were to total your car before you get it paid down enough so your car is worth more than what you owe. <\/p>\n Depreciation Protection<\/strong><\/p>\n All cars depreciate, some faster than others. A gap policy protects you against depreciation by making sure you get more money for your car if you total it. You see, most insurance companies will only pay the book price of a car, which can be substantially less than it’s worth or what you owe. <\/p>\n Better Coverage<\/strong><\/p>\n If you own an expensive car, you will get better coverage with gap insurance than you would a standard policy alone. Gap insurance will cover things that your standard policy won’t. With a more expensive car, you have more to lose. <\/p>\n Lender Requirement<\/strong><\/p>\n Many lenders require that you purchase gap insurance so you can pay off your loan in entirety if your car gets totaled. If you don’t have gap insurance, you could still owe thousands on your car long after it’s sitting in a salvage yard. <\/p>\n There are several reasons why gap insurance is a good idea. If you have any questions regarding your coverage, contact Peter Laczko Insurance Inc. today. <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Typically, gap insurance tacks an extra 5 to 6-percent onto your comprehensive\/collision premium if you purchase it through your insurance company. You may also be able to purchase gap insurance for a one-time payment due at the signing of your car loan. In this case, the cost is typically rolled into your loan. But do you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[82,83],"class_list":["post-170","post","type-post","status-publish","format-standard","hentry","category-auto-insurance","tag-peter-laczko-insurance-inc","tag-woodstock-ga"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t