mussonpatoutautomotivegroupinc | Gap Insurance

Find Gap Insurance Offers at Our Dealership

Here at Musson Patout GMC, we have you covered with a wide range of vehicles, but also many secondary products to help you receive comprehensive coverage for your vehicle. This includes gap insurance, and we're here to detail that for you.

What Gap Insurance Typically Covers

Gap Insurance covers the difference between the actual value of your car, truck, or SUV, which is defined by your auto insurance company at the time of an incident like the vehicle being in a collision and totaled, or if it is stolen, versus your current outstanding loan or lease balance. So, for example, if you have a vehicle that is considered totaled and your insurer values it at $20,000, but your financing and loan balance is $25,000, there's a $5,000 gap. With gap insurance, that difference is paid, so you don't have to.

Gap insurance does not cover mechanical issues and repair costs or vehicle value loss after an accident that is not considered a total loss, but it helps give you peace of mind in other circumstances, which is a big reason so many choose it.

Why Drivers Should Consider Gap Insurance

Gap insurance is valuable to help you combat vehicle depreciation, so you do not owe more than what the vehicle is worth early in the loan or lease. It's a good thing to consider if you financed your new car, truck, or SUV with no down payment or a small down payment, or if you choose long auto loan terms of 60 months or more. It's also smart when you're leasing, and is required in many cases to protect the vehicle's value.

It's something that can help you from paying potentially thousands out of pocket if your vehicle is totaled or stolen, so you're not left with incurring the costs.

Where You Can Buy Gap Insurance

Here at the dealership, you can purchase gap insurance as we can provide you with different options and help you find the plan that best works for you. We're confident there are rates that meet your needs and fit with both new GMC vehicles, and used options here at the dealership.

To learn more, contact us today, and we can discuss these options with you at Musson Patout GMC.