What Is Hyundai GAP Insurance?

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Once you’ve selected your new Hyundai, you’ll want to make sure you have the right insurance coverage in place to protect you on Laurel and Big Timber roads and beyond. And, while you may already have one in place, another option you can have under your belt is Hyundai GAP insurance. What is Hyundai GAP insurance on a car you may ask? GAP Insurance, or Guaranteed Asset Protection Insurance, is designed to make up the difference between the value of the model and the balance still owed on it. However, there’s much more to it than that. That’s why Underriner Hyundai is here to break down everything you need to know about Hyundai GAP insurance from what it covers to how you can get it!



What Does Hyundai GAP Insurance Cover?

So, what does Hyundai GAP insurance cover? In addition to covering the difference of your vehicle’s value and the amount you owe on it, GAP insurance offers additional coverage for more unexpected situations like theft, fire, vandalism, accidents, and even nature damages from tornadoes, hurricanes, floods, and more. The only things it does not cover is bodily injuries, mechanical repairs, or your deductible. Here are some more benefits you can find from having Hyundai GAP insurance protection:

  • Available on loan amounts up to 150% of your vehicle’s MSRP, up to $150,000
  • Covers your insurance deductible up to $1,000 (not available in all states)
  • Waives covered losses up to $50,000

Is Hyundai GAP Insurance Worth It?

Along with being able to cover more unexpected situations for drivers, Hyundai GAP insurance is certainly worth adding to your existing coverage plans. This is because it also covers the difference between the worth of your vehicle if you ever get into an accident. New car drivers will surely appreciate this aspect as the value of a new vehicle depreciates much faster after leaving the dealership lot.

How Can I Get Hyundai GAP Insurance?

If Hyundai GAP insurance is right for you, it can be added to your plan in several ways. You can get it through your regular auto insurer, a local dealership of your choice, or a business that strictly deals auto coverage. And, you can rest assured that your coverage payments won’t rise drastically as it will only cost close to $20 a year plus a one-time fee at the time of purchase.

Discover More Finance Features at Underriner Hyundai

After learning more about Hyundai GAP insurance and how it can benefit you, find more helpful features at Underriner Hyundai such as buying vs. leasing and transferring your Hyundai warranty. As always, our dedicated finance team is here to walk you through all of your options and answer any questions that you may have. Contact us today to learn more and to schedule an appointment at our dealership near Livingston!

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