What Is Auto 'GAP' Insurance?

If you’re like many Scottsdale drivers, then you may be unfamiliar with the term “GAP insurance”. The GAP in “GAP insurance” stands for “guaranteed asset protection”. What GAP protection is, in a nutshell, is coverage for everything that’s not covered with standard car insurance.

GAP insurance covers the difference between your car’s value and what you still owe on it. How else can GAP protection help you stay covered in ways other insurance plans don’t? Take a deeper look at GAP insurance with the finance center experts at Scottsdale Maserati!

What Exactly Does GAP Insurance Cover?

Now that you know the basics about what GAP insurance is for a car, you might be wondering what it specifically covers. While we mentioned what GAP insurance is and how it covers the difference between what your car is worth and how much you still owe on it, we didn’t mention everything else that it covers.

Here are some additional areas where GAP insurance can provide Paradise Valley drivers with coverage:

What GAP Insurance DOES Cover

• Theft
• Accidents
• Fire
• Vandalism
• Nature Damages (tornado, hurricane, flood, etc.)

What GAP Insurance DOES NOT Cover

• Bodily Injuries
• Mechanical Repairs
• Deductible

For more specific questions about what’s covered with GAP insurance, reach out to our finance team at Scottsdale Maserati!

Is It Worth It to Get GAP Insurance?

What is GAP protection going to do for you in the long run? Is it even worth it to have GAP insurance? We at Scottsdale Maserati believe that not only is GAP insurance for your car worth it, but it could be one of the most important types of insurance you ever buy. While GAP insurance may not cover you for everything, it can cover you for things you don’t normally think about, like your car getting stolen.

Additionally, GAP insurance is important since your vehicle depreciates the longer you drive it around Chandler. From the moment you buy your vehicle, its value starts going down. This makes it more important to have that difference covered if you get into an accident and your standard car insurance will only cover a certain amount. Ultimately, having GAP insurance can give you an extra set of confidence if anything were to happen to your car.

How to Get GAP Insurance

Now that we’ve gone over the importance of having GAP insurance for your car, you might be curious as to how you can actually get GAP insurance for your Maserati vehicle. You can usually get GAP insurance through your current car insurance provider. You can also get it through a dealership like Scottsdale Maserati.

How much does GAP insurance cost? GAP insurance usually costs around $20 a year plus a one-time activation fee when you first buy the coverage. For more questions about what GAP protection is and how you can purchase GAP insurance, let anyone at our finance center know, and they’ll get all of your questions answered! We also have plenty of additional car-buying tips on our website that can make shopping for the right vehicle seamless and stress-free.

Get Your GAP Insurance Questions Answered at Scottsdale Maserati!

If you still have questions about what GAP insurance is and how it can help protect you in ways other types of insurance can’t, then contact Scottsdale Maserati. To see how much your coverage might be worth, since GAP insurance covers the difference between your car’s value and what you still owe, value your car with us!