Asset Planning, Inc Blog

The latest from the team.

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

Continue reading
  564 Hits
564 Hits

Search Blogs Module

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