When buying a new, used or Certified Pre-Owned Honda, you may opt for gap insurance. Gap insurance is an optional coverage package that will cover the gap between the amount you owe on the car and the car’s actual cash value in the event of an accident that results in severe damage. Not every driver will need gap insurance coverage, but if you’re leasing or financing a vehicle it may be a good idea to ensure you don’t end up owing more later on.
As helpful as gap insurance can be, it doesn’t cover bodily injury or damaged property resulting from an accident. That’s why gap insurance can be a great option to get in addition to existing car insurance, but you’ll still need to pay your regular deductible before the insurance will activate.
Come speak with a Honda financing expert at our Honda dealership near Madera, CA, to see if gap insurance coverage is a good option for you. Many of our customers who are financing new Honda SUVs and sedans opt for gap insurance so that they’re covered in the event of a total loss. Sometimes if you opt to buy a pre-owned Honda or aren’t financing as much, the need for gap insurance isn’t as great, and you may choose to waive it.
If you have any questions or seek advice, our Honda financing team would be happy to help. Contact Clawson Honda of Fresno or stop by to learn more about gap insurance Coverage.