Cross The Bridge in Gap Insurance

Gap insurance for cars could save you money in Westminster, CA.Types of Coverage & Auto Insurance Westminster CA

If you buy a new or lightly used vehicle that is stolen or totaled within a year or two of buying it, you may be stuck paying the rest of the total of what is owed on the car. Gap insurance, otherwise known as guaranteed auto protection insurance, is designed to cover the difference between your car’s depreciated value and what you owe on your auto loan.

Gap insurance is designed for those who have purchased a new vehicle, or a slightly used vehicle of significant value. If this vehicle was to get stolen or destroyed, meaning you could not use it any longer, you would still need to pay your remaining loan. If you are unable to cover the difference between the amount you owe on your loan and the actual cash value if your car is stolen or totaled, then gap insurance is for you.

This type of insurance is wise for those who are financing a new or used vehicle without a large down payment, thereby creating a “gap” between your vehicle’s actual value and your loan amount, and for those who do not have enough standby cash that would allow you to cover the difference between the amount of you owe on your loan and the cash value of your car.

So that you are not left paying a huge sum of money for a car that you no longer use or own, contact Pulp Street Insurance for auto insurance, serving San Gabriel, Westminster and surrounding areas of California.

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