Is Gap Insurance Worth It?

Tiny car with insurance documents


Mascoutah drivers interested in a new Kia vehicle may be wondering, what is gap insurance on a car and if it’s worth purchasing. We have your answer to that and more in this handy car buying guide from Auffenberg Kia. We’ll help answer any questions you have while finding your next new Kia vehicle. Our team is standing by if you have any questions along the way.

What is Gap Insurance On A Car? 

Gap insurance (Guaranteed Asset Protection) is a type of insurance coverage that handles the difference, or gap, between the cash value of your car and what you still owe on it. No matter if you lease or finance your vehicle, gap insurance is available on both.

Whether damaged from an accident in Smithton or an environmental disaster, having gap insurance covers the difference mentioned above. Gap insurance doesn’t cover bodily injury or property damage. Let’s take a look below to see what’s covered with gap insurance:

  • Theft
  • Fire
  • Vandalism
  • Accident
  • Acts of nature (tornado, hurricane, flood, etc.)

Don’t hesitate to contact our finance team for details about everything else that gap insurance covers and doesn’t cover. Because of the incredible savings and affordable cost, some people do recommend buying gap insurance. 

Is Gap Insurance Needed?

Gap insurance may be optional, but many recommend it so that your assets and budget are protected. Additional benefits of gap insurance include:

  • Vehicle depreciation happens the moment you leave our dealership. 
  • Accidents can happen when you least expect it, whether it’s the day after you purchased it or a year later. 
  • Most insurance companies only cover the car’s value at the time of the accident. 
  • If your new car gets stolen or totaled and you owe more than what it’s worth, the gap insurance covers the difference. 
  • Gap insurance is a pretty affordable insurance coverage plan that you can purchase at local Trenton insurance company.

How to Purchase Gap Insurance

Drivers can purchase gap insurance coverage near Shiloh a few different ways: 

  • Shiloh auto insurance companies may offer a gap insurance plan for as low as $20 per year.
  • Some dealerships like Auffenberg Kia offer gap insurance or additional insurance coverage. 
  • Specialized car insurance companies will offer gap insurance for a one-time fee.

Learn More at Auffenberg Kia

We’ve answered, “What is gap insurance on a car?” and “Is gap insurance worth it?”, now it’s time to find the new Kia vehicle that’s best suited for your commute and everyday needs. Feel free to call us with any questions.

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