Gap Insurance

Regardless of your credit history, you’ll be approved for an auto loan here at Expert Auto in Temple Hills, Maryland. However, that’s not the end of it. You need to consider gap insurance to ensure that all your bases are covered effectively.

When your car is totaled due to an accident or whatever reason, you will likely receive a settlement from the insurance company based on the actual cash value of your car. In most cases, this is going to be much less than what you still owe. In this scenario, you with a large bill due and no vehicle. Luckily, this can be avoided if you decide to add gap insurance to your loan.

Gap insurance offers protection for you if an event like described above occurs. Gap insurance will essentially pay the difference. In other words, if you owe $15,000 on your car and the insurance company only wants to give you $9,000 for your totaled car, then you’ll still owe $6,000 out of your own pocket. If you have gap insurance, it will take care of that difference leaving with no auto loan to pay off and you will be eligible for new loan.

For questions regarding gap insurance in Temple Hills, contact Expert Auto at (866)429-0970 or drop by our dealership for more information.