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What is Gap Protection?

young man in suit showing an insurance policy
When visiting Allen Samuels Chrysler Dodge Jeep Ram for a new Chrysler, Dodge, Jeep, Ram vehicle, Nickerson-area drivers often wonder if they’ll get offers for unnecessary coverages and services. One offer worth considering is Gap insurance. What is Gap insurance on a car? We have your answer in our handy guide from the financial experts at Allen Samuels Chrysler Dodge Jeep Ram.

What is Gap Insurance on a Car?

Gap (Guaranteed Asset Protection) insurance is there to cover the difference (or “gap”) between the amount still owed and the cash value of your vehicle. Gap insurance applies to vehicles with a lease or auto loan.

Is Gap Insurance Needed?

After learning what is Gap protection, you are probably wondering if it’s worth getting. Many customers and experts alike agree that having Gap insurance is worth it. There are a few reasons why you should consider purchasing Gap insurance instead of hoping nothing will happen while on the Buhler roads:

  • Depreciation occurs as soon as you leave our dealership.
  • Accidents are unavoidable, and they can happen at any moment, even as you’re leaving our dealership in Hutchinson.
  • Most insurance companies only cover the vehicle’s worth at the time of the accident.
  • If your new car is totaled or stolen and you owe more than the deemed value, Gap insurance covers the difference.
  • Gap insurance is affordable and easy to get, so there’s no reason to not have it.
handshake with managers

How to Purchase Gap Insurance

There are multiple ways to purchase Gap insurance:

  • Your current auto insurance company may have it available for as low as $20 per year.
  • It may be available to purchase for a one-time fee from your Newton-area dealership or car loan company.
  • You can purchase it from a specialized Gap insurance company for a one-time fee.

Learn More at the Allen Samuels Chrysler Dodge Jeep Ram Finance Department!

Now that you know what is Gap insurance on a car, it’s time to get behind the wheel of your chosen Chrysler, Dodge, Jeep, Ram vehicle. We have an excellent selection of Chrysler, Dodge, Jeep, Ram vehicles in our inventory and exciting Chrysler, Dodge, Jeep, Ram specials to help you save. Have more questions about what is Gap protection? Don’t hesitate to reach out to our finance team for more info.

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1421 E 30th Ave • Hutchinson, KS 67502

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Open Today! Sales: 9am-7pm

Open Today! Service: 7am-6pm

  • No Charge Worry-Free Maintenance
  • Confidence with Vehicle Protection
  • Dedicated 24/7 Owner Support
  • VIP Access to Jeep Brand Events
  • No Charge Worry-Free Maintenance
  • Confidence with Vehicle Protection
  • Dedicated 24/7 Owner Support
  • VIP Access to Ram Brand Events
Allen Samuels Chrysler Dodge Jeep Ram 38.0856845, -97.9022308.
Allen Samuels Dodge Chrysler Jeep Ram, New Car Dealers, Hutchinson, KS