What is Gap Insurance?

When it comes time to purchase a new Hyundai vehicle from Green Family Hyundai, you’ll have to consider various financing and insurance options. One of those available insurance coverages is Gap insurance. What does Gap insurance do? It’s designed to cover the gap between the owed amount on the car and the true cash value of it at the time of the accident. Learn what Gap insurance covers and how it can benefit your East Moline drives.

What Does Gap Insurance Cover?

Gap insurance covers a variety of car-related issues. One thing Rock Island drivers should know – Gap insurance covers the damage to your vehicle and not the property or bodily injuries. With that said, here’s a look at what gap insurance does and does not cover:

Gap Insurance Covers

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

Gap Insurance Does NOT Cover

• Deductible (though some gap insurance policies allow this)
• Engine failures and other mechanical repairs/malfunctions
• Death
• Extended warranties

So, when it comes to the question, “what does gap insurance do,” it covers the total loss of the vehicle in the event of an accident. While this is optional coverage, it’s worth considering and discussing with your insurance company. 

Do I Need Gap Insurance?

While it’s not needed, it’s recommended, especially if your dealership offers a plan that includes deductible coverage. Having Gap insurance provides added peace of mind while saving your money in the unfortunate event of an accident. Don’t hesitate to speak with the financial experts at the Green Family Hyundai finance department for additional information.

Explore Your Options at Green Family Hyundai!

If you have additional questions about “what does gap insurance do,” don’t hesitate to give us a call. We want to make your car-buying experience as stress-free as possible.