The Benefits of Gap Insurance

It is always very exciting to purchase a new vehicle. However, once you leave the lot with your new ride, the value immediately drops down and you are now responsible for anything that happens to your vehicle. Unfortunately, accidents do happen and it is because of this that people choose to purchase car insurance. There are different parameters for vehicular insurance but ideally, when you are involved in an accident, your insurance company will give you money depending on what value they assess your vehicle at.

In the instance that your vehicle is determined less in value than what you owe on the vehicle, gap insurance can kick in and assist with this amount. Gap insurance is not part of typical car insurance details but you can have it very easily added on if you so desire. It is a good consideration to make if you will be paying your vehicle off for a number of years.

James Hodge Ford would love nothing more than to help you learn more about your Gap insurance options. Swing by our dealership in Idabel and we'll get right to work.

Categories: Finance


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