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What Does Gap Insurance Cover?

If you have decided the time is right for you to upgrade to a new car, you will have lots of options to consider. From trims, packages, features, colors, and more, you will have to make a number of decisions to find the model that suits your needs. Insurance coverage for your new ride is another area where you must carefully weigh your options. 

You may have heard of gap insurance, but what is gap insurance? What does gap insurance do? Simply put, gap insurance covers the ‘gap’ between the amount you owe on your car and the true cash value in the event of an accident. Learn more about your insurance options below so you can feel more secure on every trip from Pensacola to Milton.

What Does Gap Insurance Do?

Wondering “What does gap insurance cover?” Gap insurance can be highly useful and covers a number of vehicle issues if you should have to deal with an accident. One thing that is important for drivers in Daphne, AL to note, gap insurance does NOT cover property damage, bodily injury, or other liabilities. Gap insurance is strictly for covering automotive damage. Still asking, “What does gap insurance do?” Our list below should help paint a clearer picture:

  • Gap Insurance Covers:
    • Theft
    • Fire
    • Vandalism
    • Accident
    • Acts of nature (tornado, hurricane, flood, etc.)
  • Gap Insurance Does NOT Cover:
    • Deductible (though some gap insurance policies allow this)
    • Engine failures and other mechanical repairs/malfunctions
    • Death
    • Extended warranties

The highlight to remember when considering, ‘what does gap insurance cover?’ is that it is meant to prevent total loss in the event of an accident. While it is an optional plan, it can become invaluable if an accident occurs.

Do I Need Gap Insurance?

Is anyone required to have gap insurance? In short: no. Despite its optional nature, our finance experts highly recommend drivers to opt-in for this coverage plan. With gap insurance in your back pocket, you will have greater peace of mind on your daily commute from Ferry Pass to Cantonment. Our team can also help you explore other plans like comprehensive insurance for your vehicle.

Explore All Insurance and Finance Options at Sandy Sansing

Whether you are ready to buy or still in the research phase, understanding all of your available insurance options is a wise move when planning and setting a budget. You can utilize our payment calculator to determine what your dream ride may cost, making it easier to determine what insurance plans fall within your budget. Contact us or visit one of our Sandy Sansing locations near Mobile, AL for one-on-one guidance for all of your automotive needs. While you’re here, read our guide on whether you need full coverage on a used car.

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