When you’re looking for a new car, crossover, or SUV from Power Mazda, you’ll want to protect your new investment.

That means you’ll surely be reviewing options for everything from finance to insurance plans. In your research, you’ve likely come across gap insurance. If so, you might be wondering, “what does gap insurance do?” or “what does gap insurance cover?” In some cases, your car can deprecate more quickly than you pay it off. In the event that you crash your car when it’s worth less than you owe, you can be left paying off a totaled car! Gap insurance is set up to make up the difference between how much is owed on your car and the car’s actual value. We’ll help show you how gap insurance can help you onPortland area drives!

WHAT DOES GAP INSURANCE COVER?

Gap insurance covers a variety of situations that can compromise your vehicle. One thing Wilsonville drivers should keep in mind is that gap insurance is to cover damage, and is not liability insurance or similar. Specifically, gap insurance does, and does not cover:

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

In short, the answer to “what does gap insurance do?” is that it’s meant to cover the financial hit you would take in the event that your vehicle was a complete loss. And though it’s optional coverage, it is worth considering whether it’s right for you.

DO I NEED GAP INSURANCE?

Again, gap insurance is not required by law, and it entirely optional. However, there are many cases where you may want to consider your options with our finance team. Gap insurance gives you peace of mind, and will definitely help you save money in the unfortunate event of an accident. If you’re considering gap insurance, then our team would be more than happy to help you go over your options.

EXPLORE ALL INSURANCE AND FINANCE OPTIONS AT POWER MAZDA

Are you ready to consider your gap insurance options for added peace of mind on Eugene and Keizer drives? Power Mazda is more than happy to help you consider all of your options available to you. Contact us with any questions you might have!

We’d also be glad to help you learn more about changing a car battery and in-house car financing today.