What is GAP Insurance and do I need it?
GAP insurance makes a lot of sense especially on new or leased cars. You might have heard a saying about how as soon as you drive off the lot with your new car, it loses value. Well, that is not wrong. New and leased vehicles often carry a lower fair market value than what is owed on the vehicle itself. This means, if you total your new or leased car, the insurance company only reimburses you for the car's “fair market value.” Therefore, you could be out quite a bit of cash. GAP, or Guaranteed Auto Protection, coverage helps people avoid this problem. We have several carriers that offer such a product in Mesa, AZ with regular auto insurance coverage to help protect against such losses.
If you have a new or leased vehicle and want to make sure that it is properly covered, give us a call at Insurance Professionals of Arizona today. (480)981-6338