Asset Planning, Inc Blog

The latest from the team.
Font size: +
1 minute reading time (194 words)

Gap Insurance

We've come to the realization that not everyone knows what gap insurance is and why it may be a good idea to get it when purchasing a brand new car. Gap insurance is an insurance policy you buy to cover the amount your insurance company will pay out vs. the amount you owe on your car loan, in the case of an accident where your car is totaled. This is an important coverage to consider especially if you are purchasing a brand new car. Car values drop drastically once you drive the vehicle off the lot. By not purchasing the gap insurance you run the risk of owing a lot more than what the car is worth after an insurance payout. That means you would either have to pay off the loan balance yourself or roll it into another vehicle loan which would most likely leave you upside down. Definitely not a good place to be in. Here is an article, written by Joshua Caucutt from Money Crashers, that goes into further detail about gap insurance, how to get it and helps you decide if you need it.

https://www.moneycrashers.com/gap-insurance-cars-worth-it/

Have a great weekend!

Melani

×
Stay Informed

When you subscribe to the blog, we will send you an e-mail when there are new updates on the site so you wouldn't miss them.

2nd Annual Ice Cream Social
Federal Real ID Act

Search Blogs Module

Wait a minute, while we are rendering the calendar
National Ice Cream month home emergency kit vacation clients credit monitoring service Facebook profile CA FTB July weekend chip-enabled EMV cards executive order CFP ® Two-Step Verification wells Fargo Auto insurance identity thieves privacy notices investment statements 401K documents cell phone service provider CERTIFIED FINANCIAL PLANNER exam retirement interest fun facts items spring cleaning FSA blog post Flexible Spending Account assets paperwork clutter family members Wells Fargo employees driver license tax season birth certificates jury duty coronavirus account numbers text messages Medicare Erin Nelsen tax deadlines Medicare Advantage partner /owner email notifications cell phone carriers retirement accounts cell phone carriers offer 2017 Equifax breach fees borrowing money policy money IRS Independence Day DNA test kits banking CARES Act cell phone SIM swap scam house sitter April 18 2017. integral member September 30 2020. Mobile Banking Security Tips stimulus package Amazon paper records contribution limit Economic Security Medicare Part B people medications April 15 phishing sites Orange County Superior Court self-help topics retirement plans app check lists pets emergency kits identity theft media accounts tax filing deadlines home emergency kit July 4 drive /usb Notary Public https ://seekingalpha 23 andme 2017 IRA contributions Federal Trade Commission website tax deadline July 6 memorial Day weekend insurance policy Social Security Administration FEMA website July 3 rd Healthcare home break-ins ice cream event payments increase scams phishing scams Victor Dergunov team members rescue organizations illiegal robocallers home mortgages Orange County Ice Cream Social Expired medications Fox News story web address EEChecklist-Kits.pdf stockpilingchecklist.pdf offering insurance portal 70 1/2. market turmoil Legal robocalls COVID -19 virus Social Security settlement options notary services breach health care costs Open Enrollment credit card company clone counterfeits news coverage parking spots estate business hours April 11 Wells Fargo customers September 9 January 10 interest rates credit freeze president Trump https :// Shred paperwork IRA accounts toilet paper cell phones Joey Gonzales phone companies car loans Puerto Rico 2018 IRA contributions trust credit cards non-prescripstion sunglasses pet donation drive card reader California Lions Friends trustee estate planning direction Open House “ skimmer ”. prescription eyeglasses Part D premiums . September 8 tax returns clients show support checklists life saver 4 pm -8pm pet industry privacy settings Coronavirus Aid holidays approach D premiums water … Part B June 29 spread spam phone relief efforts client portal tax records ice cream insurance policies donation counts records consumer spending February 14 credit score Retirement Contribution Limits Asset Planning official certification company cell phone provider earthquake app 900 number Affordable Care Act fun atmosphere information Facebook credit card fraud opt-out stock pile summer IRS deadline pet supplies home security phone debt emergency folder bottom line health care services padlock ID card 2017 TD Ameritrade National LINC Conference VOIP landline phones hurricane Dorian information markets retirement planning flash drive home emergency preparedness kits Financial Planning Magazine Medicare question pet Roth IRA Labor Day earnings fallout vision screening Supplemental Security Income Brexit vote years student loans disaster areas Medicare Part B premiums Kiplinger Letter Kraig Mathias asset Planning donation items Treasury Department Medicare plan TD Ameritrade gap insurance 20 year anniversary October 1 2020. operations manager Charles Schwab estate planning