Are you getting vehicle transport service and are wondering if you should get an extra insurance plant instead of only relying on the one purchased by your car transport company? Well then you are thinking in the right direction. This short guide will help you learn what the GAP insurance coverage is and why you should get it. So feel free to read this article till the very end, let’s get started:
What is AFTA GAP Coverage?
The letters AFTA stand for Allied Fidelity Total Assurance that covers the ‘Gap’ between the amounts an insurance policy is covering and remaining for the reimbursement of total damage. For instance, if the insurance coverage of a carrier is $30,000 and your car values at $50,000 then in case your car gets completely damaged during the auto shipping, you will get $30k from the carrier while the remaining $20k will be provided by AFTA GAP coverage.
This is a must to have type of policy especially if you are transporting high value vehicles and the carrier’s insurance policy is not enough to cover its total value. Let’s see some of the main reasons why you should get the AFTA Gap coverage when getting vehicle shipping service.
Peace of Mind:
There is nothing better in this world than knowing your investment is safe and sound when it’s in the hands of someone you don’t really know. Car transport companies do their best to protect your vehicle from any kinds of damages and deliver it in one piece. However, accidents can happen either due to human error or natural disasters.
Whatever the case might be, you should be protected from its consequences as much as possible. This is the main goal of the AFTA Gap coverage. Your vehicle, even if it gets major damages or slight scratches that can reduce its monetary value, you will be reimbursed. First the vehicle Transport Company will pay the cost and then if some money remains, the GAP coverage will take care of it, providing you with complete peace of mind.
Do you know that your benefits with GAP coverage are not just limited to the vehicle damage? GAP coverage also helps with other things that indirectly get money out of your pocket. For instance, if you shipped the vehicle using a car Transport Company and they provided you with a date of delivery. Now if the vehicle delivery gets delayed then you might have to get a car rental to travel. The cost of this car rental will be reimbursed to you by the GAP coverage so you don’t have to shell out any further bucks than you have to.
Another example is the car key getting lost or stolen. The keys of modern vehicles have remote controls in them making them pretty expensive. So if your vehicle’s key gets lost during the transit then the cost of getting a new one made will also be covered by the GAP coverage.
Seeing the multitude of benefits, especially the peace of mind that GAP coverage delivers, it is clear that you should opt for this kind of coverage. Even if your car transport company has a policy in place, adding a layer of security will ensure that your interests and the investment in the vehicle stay protected.
In case of any major accident that the auto shipping company is unable to fully cover, GAP will pitch in the remaining amount depending on the plan you purchase.