What is GAP Insurance?

Are you asking what is GAP insurance, or to be more specific, what is GAP insurance on a car? The answer is really quite simple. GAP Insurance is Guaranteed Asset Protection Insurance, and it covers the difference between the value of the model and the balance still owed on it. Learn more about what GAP insurance is, what it covers, and how it can add peace of mind to your Ft. Collins-area commute in this guide from Honda of Greeley.

What Does GAP Insurance Cover?

What is GAP protection? Along with covering the difference between your vehicle’s value and the amount you owe on it, GAP insurance covers:

  • Theft
  • Fire
  • Vandalism
  • Accidents
  • Nature damages (tornado, hurricane, flood, etc.)

While GAP insurance does not cover bodily injuries, mechanical repairs, or your deductible, it can be especially beneficial to have it when your regular insurance won’t cover all of these unexpected inconveniences. You never know when you’re going to need it, so it’s better to be safe than sorry.

Is GAP Insurance Worth It?

Here at Honda of Greeley we definitely believe that GAP insurance is worth having. It will protect the investment you have in your vehicle when something out of the ordinary occurs, like the theft or vandalism. And since your vehicle depreciates the moment you drive it off the lot, this insurance will cover the GAP between the worth of your vehicle and what your insurance will cover if you get into an accident.

How Can I Get GAP Insurance?

You can get GAP insurance through your auto insurer, whether that’s through your dealership of choice or a company that deals primarily with auto coverage. The cost to add GAP insurance to your policy can be as little as $20 a year, in addition to the one-time fee at the time of purchase.

Learn More at Honda of Greeley

If you’re ready to fully insure your new vehicle, stop by Honda of Greeley and talk with one of our finance specialists. We can explain to you your various insurance options, as well as help you get the best Honda lease available in the Loveland and Loveland area. Make sure to check out our current Honda incentives, and if you have any questions, or would like to learn more about how to qualify for a car loan, or how to improve your credit score, please feel free to contact us.

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(970) 506-2791

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4535 W 29th Street • Greeley, CO 80634

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Honda of Greeley

4535 W 29th Street Greeley, CO

Phone: (970) 506-2791

https://maps.google.com/?q=4535%20W%2029th%20Street%2C%20Greeley%2C%20CO%2080634

Parts

Phone: (970) 939-5340

4535 W 29th Street Greeley, CO

Sales

Phone: (970) 506-2791

4535 W 29th Street Greeley, CO

Service

Phone: (970) 939-5340

4535 W 29th Street Greeley, CO
40.3906586 -104.7550626
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Honda of Greeley
Honda of Greeley
4535 W 29th Street
Greeley, CO, 80634 United States
(970) 506-2791
https://di-uploads-pod9.dealerinspire.com/hondaofgreeley/uploads/2016/10/HG_OpenGraph.png
Honda of Greeley 40.3906586, -104.7550626.