What is GAP Insurance?

November 10th, 2021 by
2021 Mitsubishi Outlander PHEV in City

So, what is GAP insurance? GAP insurance stands for Guaranteed Assets Protection Insurance and protects you for the difference between the value of your vehicle, and the balance left on the loan. Learn more about GAP insurance with the experts at Bell Road Mitsubishi below! For more information, feel free to contact us anytime!

What Is GAP Protection?

So, what is GAP protection? GAP insurance covers the difference between the value of your vehicle and the amount still on the loan. Let’s check out a few of the things covered by GAP insurance: 

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

GAP insurance provides you peace of mind on the Peoria roads and covers any unexpected event that you would otherwise have to pay out of pocket.

Is GAP Insurance Worth It?

Yes! GAP insurance is worth it, as it protects your vehicle and provides you added peace of mind around Phoenix! One reason to get GAP insurance is depreciation, as it will cover the GAP between the depreciation and how much your vehicle is worth if you got into an accident. 

Where Do I Get GAP Insurance?

Now that you know the answer to “what is GAP insurance on a car?”, you might be wondering how exactly you would get GAP insurance. GAP insurance is just $20 per year, plus a one-time fee, and can be purchased through a dealership such as Bell Road Mitsubishi.

Learn More About GAP Insurance With Bell Road Mitsubishi!

Now that you know the answer to “what is GAP insurance on a car?”, come stop by Bell Road Mitsubishi if you have any questions! Speak with our expert finance center and ask them anything you need to know about GAP insurance. If you’re looking for a new vehicle, check out our new vehicle inventory around Mesa!

While you are here, read more about Mitsubishi Road Side Assistance and what it covers.

 

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