Gap insurance for new cars

by Guest » Tue Sep 08, 2009 05:49 am
Guest

How significant is Gap Insurance for a new car?

Total Comments: 14

Posted: Sun Sep 13, 2009 09:07 am Post Subject:

Car insurance is important for me. An automobile warranty is in essence insurance cover for your automobile. It provides you with cover against the possibility of huge and sudden repair bills, and, in many cases, will make the transition through the difficult time as smooth as possible. There are many different types of automobile warranty, and they are sold at different times in the life of the vehicle, and are designed to achieve different things. The right type of warranty or service contract for you will depend on who you are, and the purpose for which you use the vehicle. If you are among the many people who rely on a car for work, you will need to take the availability of repair and replacement hire vehicle very seriously.
I think it is convenient for me i just wanna drive it for work and leisure.

Posted: Sun Sep 13, 2009 10:48 am Post Subject:

Gap insurance is important especially for financed cars. Gap insurance cover the gap in value in total loss between the insurance value and loan outstanding.

Posted: Sun Sep 13, 2009 01:26 pm Post Subject:

I think the other posters did an excellent job at explaining the importance for lease gap coverage.

It's also nice to have a full value replacement cost feature on your auto policy for your new vehicles. This coverage typically pays out the full value on new vehicles if the vehicle is totaled within the first year of first 15,000 miles (whichever comes first), instead of the depreciated (actual cash) value. It is so true that your car depreciates in value the minute you drive it off the lot. This coverage is not very expensive, and some companies include it with certain auto packages for free. It's always best to be protected!

Posted: Fri Sep 18, 2009 06:30 pm Post Subject:

Gap insurance is very important. Without it, you could be on the hook for thousands if your vehicle is totaled.

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