Do you know what Gap insurance is? Do you have it?

That's always a question that non-car people look at you in wonder and might pretend that they know what Gap insurance is. Gap insurance is kind of what it sounds like. It bridges the gap between what you owe on your vehicle and what it would actually be worth should the vehicle be stolen, in an accident, or what have you.

When buying a new vehicle, it's always good practice to put Gap insurance on your vehicle. As most of us know, the first year of new vehicle ownership is when you take your biggest hit on depreciation. With Gap insurance, which normally costs between $10 and $20 per month, you're loan will be paid off regardless if you put 100,000 miles or 10,000 miles during that year.

When purchasing your vehicle, ask the Finance and Insurance manager about putting Gap insurance on your new vehicle. It's good "what if" insurance and well worth the money.