Highlighting the benefits of California GAP coverage

Gap InsuranceGapinsuranceinfo.com has released a new resource that has outlined the details of California GAP (guaranteed asset protection) insurance and provides consumers with information that can help them to decide which form of this optional coverage will best suit their needs.

In California, GAP provides motorists that have a new vehicle that was purchased through financing, with coverage that will save them from being required to pay for the remainder of the loan’s balance should that car be totaled or stolen. This is accomplished by filling in the gap between the vehicle’s actual cash value and the amount that is still outstanding on the auto loan when it has been deemed a total loss.

This is beneficial to many drivers, as auto insurance companies will typically pay only the vehicle’s actual cash value in the event of a theft or if it is totaled. Should the driver experience such an incident within the first few months after the purchase was made, it could happen that the value of the vehicle will have dropped well below the amount still owed on the loan.

In California, GAP insurance rates are typically very affordable, and can be as low as $45, or as much as $325 per year, depending on the make and model of the vehicle. This additional coverage can be added to the auto insurance policy already held by the driver.

It is generally less expensive to have the coverage added through a personal auto policy than it is to purchase it separately through the auto dealership. Check with your agent before buying the GAP coverage so that you can compare your options.

For more information, please visit: www.gapinsuranceinfo.com

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