Do Aaa Insurance Offer Gap Insurance
Does AAA Insurance Offer Gap Insurance?
Gap insurance is an important type of insurance that can help you protect your finances. It can provide coverage for the difference between what you owe on a vehicle and what your insurance company will pay in the event of a total loss. AAA insurance is a popular provider of auto insurance, but does AAA offer gap insurance?
What is Gap Insurance?
Gap insurance is an optional type of coverage that can help you if your car is totaled or stolen. If you have an auto loan, the balance of the loan may be more than the actual cash value of the car. This is known as the gap. Gap insurance helps you cover the difference between the loan balance and the car’s actual cash value.
Gap insurance typically covers up to 25 percent of the vehicle’s actual cash value. It can help you pay off your loan if your car is totaled or stolen, and can also help protect you from any negative equity you may have in your vehicle. It is important to note that gap insurance does not cover any additional costs, such as sales tax, registration fees, or dealer fees.
Does AAA Insurance Offer Gap Insurance?
Yes, AAA insurance does offer gap insurance. AAA offers gap insurance as an optional coverage that can be added to your existing auto insurance policy. Gap insurance is available for both new and used vehicles, and can help you protect your finances in the event of a total loss.
Gap insurance from AAA is offered at a competitive rate and is available for both AAA members and non-members. It is important to note that gap insurance is not available in all states or for all vehicles. You should contact your local AAA agent for more information about gap insurance and to determine if it is available in your state.
Is Gap Insurance Worth It?
Gap insurance can be a good option for those who are purchasing a new vehicle or leasing a vehicle. It can help protect you in the event your vehicle is totaled or stolen. It can also help protect you from any negative equity you may have in your vehicle.
However, gap insurance may not be worth the cost for those who are buying a used vehicle or paying cash for a car. In these cases, the difference between what you owe and the vehicle’s actual cash value may be small or nonexistent. In these cases, gap insurance may not be the best option.
If you are considering adding gap insurance to your auto insurance policy, it is important to talk to your local AAA agent to determine if it is the right option for you. They can help you understand the cost and coverage of gap insurance and determine if it is worth it for you.
