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http://www.earlstraight.com/ Austin car accident attorney Earl Straight discusses the importance of gap insurance. You don’t want to be involved in an accident and not have the right coverage to take care of the note on your car.
Gap insurance is a particular type of insurance that pays off your vehicle’s loan if it has been severely damaged or totaled in an accident.
You’re aware that cars depreciate at a rapid rate, especially right after your drive off the lot. Unless you put a lot of money down on your vehicle or have a small note, chances are you owe more than what the vehicle is worth. Your insurance company is required to only pay you for the market value of your car, not the entire balanced owed.
Gap insurance covers you if you owe more than what your car is worth. In the event your car is badly damaged or totaled, gap insurance will cover the difference between what you owe on your car and what your car is actually worth.
Besides potential damage to your vehicle, an Austin car or truck accident can leave you with a serious injury. At Straight Law, we are experienced in handling car accident cases and can help you get you the best possible settlement.
Visit my website to order a copy of my free book, Texas Accident Law and You: 8 Common Mistakes and How to Avoid Making Them, or call my office today at (512) 454-1331 to schedule your free consultation. http://earlstraight.com/practice_areas/experienced-austin-car-wreck-lawyer-represents-bastrop-crash-victims.cfm
