You need Honda CRV gap insurance to ensure that if anything happens to your car, you’ll be able to pay off the loan you have. GAP insurance is what Guaranteed Auto Protection insurance is known as. This is a type of insurance that pays the difference between the actual value of your vehicle and what you still owe on the loan. Be sure to obtain as many quotes as you can before making a decision. And don’t just base your choice on price. Make sure that your full loan value will be paid off in the event of a claim being filed. Below you will find a few ways to ensure that you receive the lowest cost Honda lease gap insurance. You will need to provide certain data to obtain an accurate quote:
- Listed value of your car currently
- Amount owed on your loan
- Bank or company holding your loan
- Current insurance carrier
Most dealerships offer gap coverage. However, they will normally have the highest premiums for this Honda gap insurance, Civic, Accord or CRV. If you are for some reason unable to find coverage elsewhere, you can come back to the dealer and purchase coverage.
Current Insurance Company
Most insurance companies offer gap insurance. Your current insurance may be able to just add the premiums for it to your current policy and premiums. This means you might be able to negotiate a better rate than elsewhere and you will only have one insurance premium to pay.
There are many companies that offer gap insurance. If your current carrier doesn’t offer it, or the quote from the dealer is too high, then you will need to shop around. By far the easiest way to do this is online. You can go to online quote generators to obtain a free quote. Some of these are listed below:
When visiting any of these sites for a quote, click on the “Get Quote” link or button and then look for “GAP insurance. After inputting the proper data in the form, the system will look at all the available companies that subscribe to the particular website and in a minute or two will return a list of quotes for you to compare. It will pay for you to compare these quotes carefully and ensure that the coverage provided will fit your needs.
Nobody wants to get upside down in an auto loan owing more on the loan than the car is worth. But if you find yourself in this situation and you pay attention to the tips provided above and shop around carefully, you will be able to find the Honda CRV gap insurance policy and coverage you need.