Lithia Auto Stores recently explained the situations in which guaranteed asset protection (GAP) insurance can be beneficial.
Insurance is important and will provide some relief when you need it. GAP insurance covers the difference between what you owe on your vehicle and what your automobile insurance company will pay if your vehicle suffers collision damage, according to a recent post of the Lithia Auto Stores website. It can be a worthwhile asset in what may otherwise be a financially burdensome situation.
The cost of GAP insurance depends upon your current auto insurance package and the age and value of the vehicle you drive.