I just bought a new car and switched car insurance providers. I’ve been burned in the past, so I want to purchase gap insurance to protect my investment. Does Arbella Insurance offer gap coverage?
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congratulations on the new car—and the new car insurance policy! You’ll be pleased to know that Arbella Insurance does offer Guaranteed Asset Protection, also known as
As you know, gap insurance protects you from paying the cost of your vehicle’s depreciation if you’re involved in an accident. If you’ve purchased gap insurance, your provider will waive the difference between your car’s actual cash value
Purchasing gap insurance only makes sense if you still owe money on your car. If you paid for your car upfront, it doesn’t make sense to purchase gap insurance. It also might not make sense to purchase gap insurance if:
You put down 20% or more when you purchased the car
You expect to pay off the car loan within five years
Call your insurance agent at Arbella to get a quote for gap insurance coverage. If you’d like more options, you can always compare
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