What is Gap Insurance?

Couple Looking at Touchpad at Home

There are many insurance coverage options to look over once you buy a new vehicle. Of these, it might benefit you to opt for gap insurance. So, what does gap insurance do? Put simply, gap insurance is designed to cover the gap between the owed amount on the car and the true cash value of the car at the time of an accident. While this insurance isn’t required, it can be very helpful to have in the event of an accident, especially after recently buying the vehicle. Learn more about what all this insurance covers as well as how it can further benefit you and your Plano drives.

What Does Gap Insurance Cover?

What most drivers should keep in mind is that gap insurance covers a variety of issues related to your new vehicle, however, this insurance is only meant to cover damage to your vehicle, no property or bodily injuries. Here’s what gap insurance does, and does not, cover:

  • Gap Insurance Covers:
    • Theft
    • Fire
    • Vandalism
    • Accident
    • Acts of nature (tornado, hurricane, flood, etc.)
  • Gap Insurance Does NOT Cover:
    • Deductible (though some gap insurance policies allow this)
    • Engine failures and other mechanical repairs/malfunctions
    • Death
    • Extended warranties

The main takeaway from the question ‘what does gap insurance do?’, is that it’s meant to cover total loss in the event of an accident. While this is optional coverage, it might be worth talking to your insurance company about.

Do I Need Gap Insurance?

In short: no, though it is highly recommended that you opt for this insurance when purchasing a new car as you go through the various insurance plans and financing options. Gap insurance is especially helpful if your dealership offers a plan that includes deductible coverage. In addition, you’ll gain peace of mind and save money in the event of an accident. Speak with our financing team to talk about buying gap insurance today.

Explore All Insurance and Finance Options at Town North Mazda

Whether you’re looking to purchase or just starting to look, it pays to have knowledge of various insurance coverages, including gap insurance. Learn more about insurance options as well as financing plans when you visit Town North Mazda near McKinney. Our finance department is ready to answer all of your questions. Contact Town North Mazda today to schedule an appointment, with any questions, or even to find fun Fall activities in the DFW area!


Explore Our Models

  • 2019 Mazda CX-5 Interior

    The 2019 Mazda CX-5 offers Plano drivers a comfortable and high-tech commute. Take a look at the luxe materials and advanced technology inside the Mazda CX-5 cabin, then make your way to Town North Mazda for a test drive so you can experience the Mazda CX-5 interior for yourself. Learn More Browse Inventory Mazda CX-5 Accessories Interior…

  • What Are Some Popular Mazda CX-5 Accessories?

    Whether you’re looking to upgrade its exterior or interior, the new Mazda CX-5 accessories are available to you at reasonable prices. At Town North Mazda we also offer parts specials to help you save on the parts you need for your new model. Find OEM parts right here at Town North Mazda today and have our certified technicians install…

  • What are the Mazda6 Safety Ratings?

    When looking for a stylish ride for your Plano commutes with the added peace of mind that comes with advanced safety features, choose the 2019 Mazda6. The 2018 Mazda6 safety ratings are in and it’s earned the top safety scores in independent safety tests from the Insurance Institute for Highway Safety (IIHS) and National Highway…

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact
Contact Us ×

Sales

(877) 506-2932

Call Now

Service

(972) 231-6370

Call Now

Parts

(972) 231-6370

Call Now

307 South Central Expressway • Richardson, TX 75080

Get Directions

Today's Hours:

Open Today! Sales: 8:30am-7:30pm

Open Today! Service: 7:30am-7pm

Open Today! Parts: 7:30am-6pm

Town North Mazda

307 South Central Expressway Richardson, TX

Phone: (877) 506-2932

http://maps.google.com/?q=307%20S%20Central%20Expwy%2C%20Richardson%2C%20TX%2075080

Parts

Phone: (972) 231-6370

307 South Central Expressway Richardson, TX

Sales

Phone: (877) 506-2932

307 South Central Expressway Richardson, TX

Service

Phone: (972) 231-6370

307 South Central Expressway Richardson, TX
32.947526 -96.7359961
[schema type="organization" orgtype="LocalBusiness" url="www.townnorthmazda.com" name="Town North Mazda" description="" street="307 South Central Expressway" city="Richardson" state="TX" postalcode="75080" country="US" email="mwedell@townnorthmazda.com" phone="(877) 506-2932" logo="https://www.townnorthmazda.com/wp-content/themes/DealerInspireDealerTheme/images/logo.png"]
Town North Mazda
Town North Mazda
307 South Central Expressway
Richardson, TX, 75080 US
(877) 506-2932
https://www.townnorthmazda.com/wp-content/themes/DealerInspireDealerTheme/images/logo.png
Town North Mazda 32.947526, -96.7359961.