PRco Insurance Services announces new product - GAP Insurance (California Residents Only)

Feb. 24, 2011 - PRLog -- Having a car loan can be stressful. Always worrying about the “What ifs?”. What if my car is stolen? What if I’m in an accident and my car is totaled? That’s why you buy car insurance, right? But what happens if your car insurance does not pay enough to pay off your car loan? That is why you buy GAP Insurance.

So what is GAP Insurance? Let us explain. If your vehicle is totaled or stolen, your insurance company will only pay the current value of your vehicle (actual cash value), not necessarily how much you still owe the bank. Normally you are left to pay the difference out of your own pocket. GAP Insurance can cover the difference, subject to terms and conditions of the policy, so that you are not left paying for a car you do not have.

Why is there a “GAP” and why would you buy a GAP Insurance? The main reason a “GAP” occurs is depreciation, or more to the point, when your vehicle’s value decreases faster than you can pay off the loan. This is especially true with longer loan terms and/or higher interest rates. You may not have considered GAP coverage when you purchased the car because you got a great deal or you didn’t expect your car to lose its value. Maybe something has changed; a new model has come out or gas prices have skyrocketed and your vehicle suddenly isn’t worth what you expected it to be. So what options are you left with?

Purchase GAP Insurance!! This GAP product isn’t tied to the purchase of your vehicle or the origination of the loan. That means you can get GAP Coverage now that you know you might actually need it.

The application process is simple. A short application and quick approval process can get you the Coverage you need today. Contact Marcia (license #0D80529) by phone at 1-800-388-PRCO (7726) or by email at Marcia@prcousa.com.

Don’t let another day go by worrying about the “What ifs?” of YOUR car loan. Call PRco!!

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PRco specializes in covering preowned vehicles for customers in California, Nevada, Oregon and Washington. We protect you from expensive, unexpected mechanical breakdowns.