What is Gap Insurance?

Car Insurance Paperwork

When you are purchasing a new car, you have several decisions to make. One of the most important is choosing your insurance coverage. Gap insurance is one of your options. What does gap insurance do? It gives Brandon drivers added peace of mind by covering the gap between what is still owed on the car and what it is worth at the time of a collision. Reeves Volkswagen has additional details, so you can decide if this extra coverage is right for you.

What Does Gap Insurance Cover?

Gap insurance covers a variety of issues related to your vehicle. Keep in mind that gap insurance does not cover property damage or bodily injuries. Below, we have broken down what is and is not covered by gap insurance:

  • 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

We have answered the question ‘what does gap insurance do?’ is that it is meant to cover total loss in the event of an accident. Even though gap insurance is not required, it is a good idea to discuss this option when you are purchasing your new car, truck, van, or SUV.

Do I Need Gap Insurance?

Once again, gap insurance is not a required form of insurance, but it is easy to see why it is . highly recommended. Gap insurance is especially helpful if your dealership offers a plan that includes deductible coverage. Having this insurance allows you to feel more confident on the roads of Wesley Chapel. What’s even better, if you happen to be involved in a collision, and you owe more on the car than its current value, you do not have to worry about hefty out-of-pocket expenses. Talk to our financing team about buying gap insurance.

We Make Financing and Insurance Hassle-Free

Before you make a final decision on your purchase, it is good to weigh all of your financial and insurance options, so you can be 100 percent happy with all of your choices. The team at Reeves Volkswagen would be glad to answer any questions that you may have. Contact us today.

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(813) 499-2247

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11337 N Florida Ave • Tampa, FL 33612

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Today's Hours:

Open Today! Sales: 9am-6pm

Open Today! Service: 7am-4pm

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Reeves Volkswagen 28.0535313, -82.4589577.