What is GAP Coverage

What Is GAP Coverage?

What is GAP coverage or GAP Insurance? Do I need it? It costs extra?

These are some of the questions that you may have when you are sitting in the finance office for your next vehicle purchase.  Here is some information for you.

GAP stands for Guaranteed Auto Protection.  It is a form of auto insurance that a car buyer can get to protect themselves against a total loss.  

GAP insurance will cover the difference between your vehicles depreciated value and what you still owe if your vehicle is stolen or you are in an accident and it is a total loss.

In other words, let's say you owe $10,000 on your vehicle and you are in an accident.  Your insurance company says that it is a total loss.  They give you $5000 for the value of your vehicle. Now you are left still owing $5000 on a vehicle that you don't even have.  GAP would pay the remaining balance of $5000 and pay off your loan.  

It is wise to invest in GAP coverage to cover yourself in case of such events.

What To Do If Your In a Flooding Vehicle

Tips to Keep You Safe in a Flooding Vehicle

Summer time rain! So peaceful and relaxing, but also it can be dangerous!

Flash flooding can happen without warning and can happen in seconds!

Here are a few tips to keep you safe if you are in a flooding vehicle.

- Stay Calm, Never Panic

- Turn on your headlights and hazard lights

-Take off your seat belt

-Unlock your doors

-Lower your windows and climb out and get to higher ground.

-Never attempt to drive through the flooded road

-Call 911 for help

Accidents Happen..Now What

Accidents Happen ...Now What

You are driving down the street and it happens, you are in an accident.  They happen so quickly and can leave you scattered.  Here are a few tips on what to do when you are in an accident.

1.  Check yourself and any passengers in your vehicle for injuries.

Call 911 for any injuries.  Even minor injuries need to be checked out by a healthcare professional.

2.  Get to safety. 

 If your vehicle is still able to drive, pull off to the side of the road or into a parking lot. If you cannot move it turn on hazard lights. 

3.  Call the police.

Even in a minor accident a police report is very important to have. Avoid taking blame at the scene and avoid placing blame on the other party.  Allow the police to determine who is at fault.

4.    Exchange information and document the accident.

Driver and passenger names

License plate numbers

Insurance information

Make and Model off vehicles involved

Contact information for eyewitnesses

Location and time of the accident

Name of police officers responding

**Take pictures with your cell phone**

7.  Notify your insurance.

Contact your insurance company with the police report number and any other information about the accident.