Gap Coverage and Personal Injury Claims


So what is Gap coverage and why do I need it?

Gap coverage is actually insurance coverage that covers the difference between the value of your car and and what you owe on your car if your car is damaged in an accident and is really totaled out. Because in a lot of circumstances that’s completely different. There are lots of cases where the value of your car may be five thousand dollars but what you actually owe on it is eight thousand.

If you don’t have Gap coverage the at-fault party’s insurance company is only going to be responsible to pay the value of your car, not what you owe on it, and you’re responsible for that extra three thousand dollars. So if you own a car you want to have Gap coverage. If you lease a car it’s a different deal. If you leased it the dealer that leased it to you will have Gap coverage. But if you own your car you need to have Gap coverage. That is a must.

So if you’ve been injured in a car accident and you need help on it make sure you call us because there are actually some little intricacies with Gap coverage and if your claim isn’t made soon enough and isn’t made correctly they will deny your claim and you’ll lose out on that coverage. So call us immediately after an accident.

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