Mercedes-Benz Brampton
10 Coachworks Crescent, Brampton, Ontario, L6R 3Y2
“I don’t need gap insurance coverage. I have both comprehensive and collision insurance. I’m covered.”
Maybe you’re thinking the same thing. But, what if you have an accident on a nearby Georgetown road, and your car is totalled? Does the “full coverage” from your policies cover you completely? You may think it does. What if your car is worth less at the time of the accident than what you still owe on it? Are you still completely covered? What if you lease? Do you need it then? Mercedes-Benz Brampton wants to arm you with the information you need to make the best decision possible. Below, you’ll learn exactly what is gap protection insurance on a car, and if gap insurance is worth it to you.
To understand what gap protection is, one needs to understand what “full coverage” does and does not do. “Full coverage” insurance (a combination of collision and comprehensive coverage) covers the full market value of your car at the time of an accident. That’s fine if the market value of your car is more than what you owe. But, what if it’s less than what you still owe? That creates a “gap” between what your full coverage policy will pay out and the balance of your loan. And you’ll have to pay that gap, unless you have a policy that’ll cover it. That’s what gap insurance on a car is. You can probably see now why so many Orangeville drivers feel that gap insurance is worth it.
Gap insurance is something you’ll seriously want to consider if you’re buying a new car. Our finance department can help you figure out if it’s right for you. You should especially consider gap protection under these circumstances:
The helpful finance managers at Mercedes-Benz Brampton would be happy to help you decide if gap insurance is worth it to you. While you’re here, make sure to check out our new vehicle offers. We’re just a short drive away from Caledon, so drop by or contact us today!
Other Articles That May Interest You
Mercedes-Me Connect is transforming the way Mercedes-Benz owners in Brampton interact with their vehicles, integrating cutting-edge technology to make driving safer, easier, and more enjoyable. This comprehensive suite of features and services acts as a digital bridge between your Mercedes-Benz and your everyday life, redefining automotive convenience through advanced connectivity. Unveiling...
The new 2025 Mercedes-Benz introduces a range of improvements that elevate the Mercedes-Benz luxury flagship EV’s status as a leader among its rivals. The Mercedes-Benz EQS Sedan has set a new standard for luxury electric vehicles since its introduction, and now with its 2025 model year updates, it reinforces the automaker’s position as one of the most impressive premium electric vehicles...
Mercedes-Benz has unveiled the latest addition to its electric fleet, the all-new Mercedes-Benz eSprinter, aimed at redefining efficiency, range, and load capacity in the commercial van sector. This launch signifies a significant step forward in Mercedes-Benz's commitment to sustainable transport solutions, particularly for the North American and European markets. A Closer Look at the eSprinter...
