Nothing is worse than being in an accident that totals your beloved car. Except perhaps the shocking realization that you owe more on the loan than your insurance company is willing to pay! Fortunately, there is an easy way to protect yourself against this risk - Gap Insurance.

What is gap insurance? Gap insurance is a policy that “fills the gap” between the amount you owe on your loan and the actual cash value settlement paid by your insurance company in the event of a total vehicle loss. For example, let’s say you total your 2 year old car that you originally financed for 72 months. Your insurance company generously gives you $15,000, but you still owe $18,500 on your loan. Gap insurance will pay the $3,500 difference. If you did not have gap insurance, you would owe that $3,500 out of pocket!

Gap insurance has a relatively small, one-time cost that must be purchased at the time you purchase your vehicle (or within a few days). It can be purchased whether you are financing a new or pre-owned car. Gap insurance is NOT required to secure financing for a vehicle. However, if you elect to finance your vehicle for 48 months or more without making a significant down payment, then consider purchasing gap insurance to protect yourself and your vehicle. Women's Automotive Solutions offers gap insurance at a significant discount off dealer prices.

Contact a Women's Automotive Solutions consultant today for a quote!