Allstate auto insurance to cover rideshare drivers

Allstate auto insurance Geico

People who are driving with the use of app based services like Uber will now have the insurer’s coverage available. Allstate auto insurance offerings will now be including coverage for drivers who will be using apps such as Uber and Lyft in order to pick up ride sharing passengers in order to earn an income. The auto insurance coverage will come with an average premium of between $15 and $20 per year. The announcement about the new type of Allstate auto insurance policy also explained that the goal of the…

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Auto gap insurance provides new car buyers and leasers with additional coverage

Consumers can benefit greatly from gap insurance on their vehicle purchases as long as they know it exists. According to leaders in the auto industry, though gap insurance may be familiar to individuals who have leased cars in the past, to everyone else, they may not realize the advantages that it can provide when they purchase a new vehicle with financing that includes low monthly payments. Also known as guaranteed auto protection, this coverage is meant for the difference between what is still owed on the loan for the vehicle,…

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What to consider when shopping for auto gap insurance

Auto gap insurance, also sometimes known as “totaled insurance” is a form of vehicle coverage that protects the loan amount of your car, SUV, van, or truck, in the case that it should be totaled, so that you will be sure to receive its actual cash value in order to replace it. This form of coverage is virtually always required when a new car is being purchased, as the value of that vehicle depreciates starting the moment that it is driven out of the dealership. Many leased vehicles also require…

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Is a loan gap insurance policy voided by a late auto payment

Many loan gap policyholders wonder if their insurance becomes void if they are ever more than thirty days late with an auto payment. The answer to this common question is that a gap insurance policy is not voided by a late car payment. Gap insurance is not automatically cancelled when a policyholder is behind on a payment, but it will matter if the vehicle is ever totaled before the payments are brought up to date, the payouts from your coverage will not include those overdue payments though. What gap coverage…

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Highlighting the benefits of California GAP coverage

Gapinsuranceinfo.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…

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Mechanical breakdown insurance can cover the cost of vehicle repairs

Mechanical breakdown insurance is a form of supplementary insurance to a regular auto insurance policy that can help to pay for repairs to a car that can be required over the years. The price of unexpected auto repairs can be very costly and can throw off a person’s ability to stick to a budget or keep to a financial plan. By investing in the additional coverage provided by mechanical breakdown insurance, customers can make their expenses much more predictable and reduce the risk of unexpected costs that they cannot afford.…

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What consumers need to know about gap insurance

We like to call it gap insurance, but even that isn’t fully correct as it also has gaps of its own. There appears to be a huge misconception when it comes to what people believe about gap insurance, and what it really is. To a lot of people they believe it covers everything their main insurance does not, as well as cover your car payments when you are unable to pay them yourself. This is not true, as you will find out what gap insurance DOES NOT cover, below. If…

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Does gap insurance make sense for you?

By purchasing gap insurance, the financial burden on the depreciating value of cars can be resolved. A new car’s value decreases by the time you drive it off of the dealer’s lot, and can actually be reduced by 30% during its first year of ownership. The decrease in the value of new cars can lead to a huge financial burden, as you can end up having a debt on your car loan that is larger than the actual worth of the car. Should you be involved in an accident or…

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Survey says that car dealerships profit big time from selling insurance products

Finaccord, a financial market research group, conducted a study across 26 countries regarding the financial impact of up-selling consumers on “extras” when they purchase a new car. The numbers are staggering on how it’s affecting car dealers and manufacturers profit margins.   When dealerships partake in selling insurance products like gap insurance, extended warranties, auto insurance, roadside assistant programs and creditor insurance they benefit wildly. According to Finnacord, their study shows the importance of the said factors to the automotive industry in the whole of Europe. In the countries that were…

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Auto gap insurance shopping tips

Gap Insurance is beneficial if you owe more money on a vehicle than it is worth at the time it is stolen or totaled in a car crash.  It is sometimes offered as an add-on to your current auto policy, but can also be offered by the car dealer at the time of purchase. This type of insurance can be very helpful, especially when you are purchasing a newer vehicle. If your current auto insurance company offers it as an add-on you might want to shop around to make sure…

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