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Purchasing a BMW Certified vehicle isn’t just a matter of choosing the model you like and driving off. You also must consider whether you’ll secure GAP insurance to protect your investment in case of an accident. By consulting the BMW of Sherman Oaks experts, you learn whether GAP insurance is worthwhile for BMW Certified vehicles.
What Is GAP Insurance?
Guaranteed Asset Protection (GAP) insurance helps offset insurance costs if your model is totaled, stolen, or lost. It protects drivers against depreciation by helping to pay for insurance payouts if your car’s value is lower than the value at purchase.
For example, even if your BMW Certified vehicle is valued at $20,000 when you sign for it, it will depreciate over time. If the car is totaled and your insurance company will only cover $18,000, GAP insurance will cover the remaining $2,000 of the original value.
Is It Worth It for BMW Certified Models?
BMW Certified vehicles are typically only a few years old at most and have seen little use from responsible owners. As a result, they still have plenty of value that will depreciate over your time with the car. That’s why GAP insurance is often worth it if you purchase a BMW Certified vehicle.
This insurance option is designed for emergencies, as it protects your finances if your car becomes unusable or unavailable to you. Thus, if you’re driving a lot, it’s worth applying for GAP insurance at signing. There are terms, conditions, and exceptions your BMW dealer will help you navigate.
Explore BMW Certified Protection Options in Sherman Oaks, CA
If you want to purchase GAP insurance for your BMW Certified model, our dealership can help you find the right plans. Contact BMW of Sherman Oaks today to see what insurance options are available for your vehicle.