Find the right coverage that fits your needs!

Family in DealershipThough buying a car is large investment, the expenses don't end at the dealership. You'll also need to purchase auto insurance in accordance with Georgia law. While liability coverage is required, gap coverage is an option to consider.

What Gap Insurance Covers


You've probably heard that cars depreciate in value as soon as you leave the lot. What you may not know is that cars lose about half their value within three years. But chances are, it'll take four or five years to pay off the loan. So you may find yourself in the position of owing thousands more on a car than its current market value. This is known as being upside down on a loan.

Gap insurance is designed to offer financial protection for an upside down loan. For instance, if your car is totaled before it's paid off, the check you get from your auto insurance provider will reflect the car's current value, which may not be enough to buy a replacement car. And on top of having no car, you may still owe on the car that was totaled. In similar cases, gap insurance can step in and cover the sum still owed on the car loan.

For approximately $30 per year (a sum that decreases as your car ages), you can gain thousands of dollars' worth of coverage. So while gap insurance is not required in Georgia, it's a coverage option that many drivers should consider. This is especially true of drivers who are financing a car and/or own a car that is known to have a high depreciation rate.

Luckily gap coverage can be added to your auto insurance policy at any time. This gives you the chance to consult with your independent insurance agent to find the best deal possible.

Get started today. Call Guardian Insurance at (855) 554-6482.

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