Why You Should Purchase Gap Insurance



Picture this — you’re at the car dealership purchasing your brand new car. You’ve negotiated the perfect deal, and while you’re discussing the final details, the finance manager slides an informational pamphlet across the table entitled “Gap Insurance.” You then realize you’ve never learned about this type of insurance. No need to fret — Cushman Insurance is here to help! As local and independent insurance professionals, Cushman Insurance is here to provide you with expert advice on your auto insurance coverage options. A Loan/Lease Gap Endorsement is a particularly smart investment for car buyers to consider. In the event of a total loss of your vehicle in an accident, or if your vehicle is stolen and never recovered, gap insurance would cover the difference between the actual cash value of your car and the balance of your loan or lease at the time of the incident. In addition, this endorsement can be purchased one of two ways — either through your local, independent insurance agent or when you are at the dealership. While the gap coverage details should be very similar regardless of who you decide to buy from, your decision to buy it from the auto dealer or lender could affect what you pay for the coverage, your cancellation options, and potentially even the claims process. It’s important to note that the dealership charges a monthly fee that can equal hundreds of dollars. By purchasing gap insurance with Cushman Insurance, this policy can be a little as $50 a year! With Cushman Insurance by your side, finding the right coverage for your new car doesn’t have to be complicated. Our team of experienced insurance professionals will assist you every step of the way, from providing you with a customized auto insurance quote for your dream car, to making sure you’re taking advantage of all available discounts. At Cushman Insurance, we want you to live more and worry less when it comes to your auto insurance. If you have any additional questions about gap insurance or are interested in adding it to your existing auto policy, Cushman Insurance is happy to help. Give us a call to connect with one of our insurance professionals today.


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