Your regular auto insurance may not offer enough coverage if your car is totaled. When an insurance company declares your car totaled, it determines a value based on age. If you have a newer car, you may actually owe more on your loan than your car is worth, which can leave you paying out of pocket, unless you have GAP insurance.
GAP -- guaranteed asset protection -- insurance is for that very situation. If your car is totaled and the insurance payment doesn't cover the full amount of what you owe, GAP insurance will kick in and cover the rest, so you don't wind up owing money on an unusable car.
GAP insurance premiums are very reasonable, and you usually can get a policy right at your dealership. Come see the experts here at Jim Falk Hyundai of Maui for your new car purchasing needs, including getting a GAP policy to cover your investment.
