GAP car insurance coverage through Travelers: prices and policies

Getting decent GAP car insurance coverage can be a lifesaver. The magic of Guaranteed Auto/Asset Protection or GAP coverage is that in the event of a total write down of your vehicle, you'll be covered up to its current market value by your collision insurance. If you duck under the umbrella and get GAP car insurance coverage from Travelers, prices and options just might help seal the deal on this option.

While you might think it's an old canard that a new car loses 30 to 50 percent of its value the moment it's driven off the lot, depreciation is a fact of life when buying a newer car. The whole point of GAP coverage is to offer some financial assistance in those rare cases where your new or newer car is stolen or totaled in the early stages of a car loan or lease.

Of course, GAP car insurance isn't for everyone. If you own your vehicle outright, or if you've managed to accrue significant equity in it, GAP car insurance might be a waste of money for you.

If you're considering GAP car insurance coverage, Travelers prices can be a great investment under certain circumstances. One of these is if you've opted to lease your car. In this case, the GAP coverage will cover the remaining unpaid balance of the lease, which sets you free to move on immediately rather than labor to pay off the last 36 months of a lease on a totaled car while you're buying or leasing another working car.

For free quotes on GAP car insurance policies, click here

Another good time to opt for the GAP coverage is if you're buying a newer car with a small down payment. Just about anything less than 20 or 25 percent down will leave you potentially exposed to a dangerous degree. Depreciation on a new car tends to happen more quickly than car loan or lease satisfaction. The way your Travelers collision coverage works, under which any GAP coverage plan would fall, Travelers will typically only pay the Blue Book value for your car. It's a huge relief to know that, in addition to the trouble of replacing your car, you won't spend the next few years paying off an old loan.

When it comes to checking out GAP car insurance prices, Travelers is much like other insurance carriers in that getting a quote practically involves signing up for a policy. For GAP car insurance coverage, Travelers prices its services in much the same way as the rest of the industry, but it does offer some impressive discounts to blunt the cost of adding options like GAP. Some of Travelers discounts you can apply for include:

• Safe driver advantage - if you meet certain qualifications (such as no accidents, violations or major comprehensive claims in your household) you could get discounts
• Multi-car advantage - If you insure more than one car with Travelers, you could benefit 
• Accident forgiveness - if you've had Travelers auto insurance for four years or more and have had no at fault accidents or motor vehicle violations for five years
• Hybrid auto discount - you can get up to 10 percent off insurance for your hybrid vehicle
• Multi-policy discount - when you combine Travelers auto, home and boat insurance, you could see savings of up to 20% on each policy
• New car discount - when you purchase or own a car that's less than three years old, you may qualify for this discount of up to 10 percent off collision coverage (especially useful if you are also considering adding GAP coverage)
• Home ownership discount - if you own your own home or condo, you may qualify for this discount
• Paid-in-full discount - if you select a paid-in-full bill plan and pay your auto policy premium in full, you could receive a discount of up to 5 percent
• Buying early advantage - by planning ahead and obtaining an advance Travelers quote, you could save some money
• Good student discount - young drivers may qualify for a discount for having good grades (A/B average)
• Driver training discount - drivers under age 21 who complete a driver-training course may qualify for this discount
• Student away at school discount - if you have a dependent under age 25 who goes to school at least 100 miles away, you may qualify for this discount
• IntelliDrive™ Discount - Travelers IntelliDrive™ offers a variety of benefits amd if you qualify and sign up for it, you're eligible to receive an immediate discount of up to 5 percent and if you drive 10,000 miles a year or less, you could get a discount of up to 20 percent at policy renewal based on the miles you drive (not available in all states)

Whatever your situation, it's always a good idea to seek out an experienced insurance broker for advice and a quote before committing to any form of car insurance coverage. GAP car insurance Travelers prices will vary by state, loan value and even your personal credit history, which makes a professional consultation even more valuable. Reply! can help by connecting you to experienced car insurance professionals in your area who can answer any of your questions and help you put the best possible car insurance coverage plan to work for you.