Is GAP Insurance Worth It?

Accountant working at the office

Are you ready to purchase a new vehicle? If so, you may be asking yourself, “Is GAP protection worth it?” When you buy a new car, it’s likely you’ll be offered services and coverages you won’t need. Nevertheless, GAP insurance is one form of coverage you may want to consider. Read on to learn more about GAP insurance.

What Does GAP Insurance Cover?

Guaranteed Asset Protection (GAP) is optional and covers the difference (or gap) between your car’s cash value and the amount you still owe on it. Additionally, GAP insurance can cover theft if your vehicle is stolen and not recovered. GAP insurance is available for both leased and financed vehicles.

Do I Need GAP Insurance?

No, not necessarily. However, it’s widely agreed upon by car shoppers and experts alike that purchasing GAP insurance is a smart move and offers added protection. Instead of taking your chances on Elizabethtown roads, consider the following reasons why GAP insurance is worth it:

  • Your vehicle depreciates in value the moment you drive off the dealership’s lot.
  • You never know when an accident might occur and it’s best to be prepared with the minimum required insurance coverage, as well as supplement protection.
  • Typically, insurance companies cover what your vehicle is worth at the time of an accident — not what it’s worth beforehand.
  • If your new vehicle is deemed a total loss or stolen, and you owe more on it than what it’s worth, GAP insurance will cover the difference.
  • GAP insurance coverage is generally affordable and easy to acquire.

How Can I Get GAP Insurance?

Wondering how you can get GAP insurance in New Albany? It’s easy! Here are a few options available to you:

  • You may be able to purchase it from your current auto insurance company for around $20 a year.
  • In some cases, dealerships and car loan companies will offer GAP insurance for a one-time fee.
  • You can purchase it from a GAP insurance company for a one-time fee.

Rely on Mercedes-Benz of Louisville for More Information!

If you’re ready to take the next steps toward purchasing a new car, Mercedes-Benz of Louisville can provide additional information on GAP insurance, as well as new vehicle warranties and CPO vehicle warranties. Don’t hesitate to contact us with questions or visit us near New Albany for one-on-one assistance!

More From Mercedes-Benz of Louisville

  • 2019 Mercedes-Benz GLC Price

    The 2019 Mercedes-Benz GLC 300 price starts at $40,700*, while the GLC 300 4MATIC® Coupe starts at $47,300*. If you’re searching for a premium family vehicle that’s not overly pricey, the new GLC is a solid option. Price-wise, it’s a happy medium between the smaller GLA and larger GLE. Additionally, it’s packed with a variety…

  • What Are the Mercedes-Benz Sprinter Dimensions?

    The Mercedes-Benz Sprinter is a configurable commercial van that’s available in a wide range of body styles and sizes. Choose from the Mercedes-Benz Sprinter Cargo Van, Crew Van, Passenger Van, or Cab Chassis. Each trim is suited for unique operations and offers its own measurements in terms of passenger space, cargo, standing heights, and more….

  • Mercedes-Benz Performance Parts

    Do you need replacement Mercedes-Benz OEM parts for your vehicle? Or are you looking to take performance to the next level? Mercedes-Benz of Louisville near Elizabethtown has dependable parts to keep your vehicle in prime condition. Our parts specialists can help you outfit your new Mercedes-Benz with the parts you need to improve performance, handling, and overall…

Saved Vehicles ×


You don't have any saved vehicles!

Look for this link on your favorites:


Once you've saved some vehicles, you can view them here at any time.

Contact Us ×

(502) 565-4410

Call Now

2520 Terra Crossing Blvd • Louisville, KY 40245

Get Directions

Today's Hours:

Open Today! Sales: 9am-7pm

Open Today! Service: 7:30am-6pm

Open Today! Parts: 7:30am-6pm

Mercedes-Benz of Louisville

2520 Terra Crossing Blvd Louisville, KY

Phone: (502) 565-4410


Phone: (502) 893-4704

2520 Terra Crossing Blvd Louisville, KY


Phone: (502) 532-8899

2520 Terra Crossing Blvd Louisville, KY


Phone: (502) 532-8900

2520 Terra Crossing Blvd Louisville, KY
38.2511684 -85.6415362
[schema type="organization" orgtype="LocalBusiness" url="" name="Mercedes-Benz of Louisville" description="" street="2520 Terra Crossing Blvd" city="Louisville" state="KY" postalcode="40245" country="United States" email="" phone="(502) 565-4410" logo=""]
Mercedes-Benz of Louisville
Mercedes-Benz of Louisville
2520 Terra Crossing Blvd
Louisville, KY, 40245 United States
(502) 565-4410
Mercedes-Benz of Louisville 38.2511684, -85.6415362.