Auto Insurance Northeast Cobb Georgia GA
Reader’s Question:
I bought a $20,000 car and made a $2,000 downpayment, the rest of which was under financing. I did carry full coverage for remaining $18,000 worth of collision and comprehensive auto insurance with a local insurer in Northeast Cobb Georgia GA. If my car is totaled after a year, I am certain my replacement value from my insurer will be lower than what the bank will be asking from me. What’s my remedy in case it leaves me short by a few grand?
Dino
Northeas Cobb, GA
Lucky you, for there’s Gap insurance for you. That’s not the GAP clothing line but the rider for auto insurance. Gap insurance would cover the difference which can be a good idea for the circumstance that you gave. This is mostly applicable for cars with expensive sticker price purchased with a relatively small downpayment.
Most auto dealerships sell gap insurance and not car insurance agents. This means that you can therefore purchase this at the same time you purchase you buy your new car. However, there are also car insurance agents around Northeast Cobb Georgia who carry gap insurance. Try shopping online too which you can easily do using this site. It will be possible to shop here for quotes without any obligations.
For gap insurance in Georgia GA, expect to pay approximately $30 per month. Most dealerships charge a one-time fee of up to $300. But you might as me now, will gap insurance be worth spending for? My answer to that will always bank on the principle of insurance, which always carries a reward/risk equation. A few factors to consider would be your capacity to pay such sum, your car’s depreciation, and your probability of getting in an accident while on the road.
Tags: auto insurance, car insurance, gap insurance
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