If you’re a Nebraska driver, you are required by law to carry auto insurance. Many Nebraska drivers have questions about their auto insurance options. If you are in the Omaha, NE area, our team at Ed Thompson Insurance Agency is here to help. We’ve been working with drivers like you since 2005.

Understanding Gap Insurance

When most people think about auto insurance, they typically focus on liability, comprehensive, and collision coverage. However, if you’re purchasing insurance for a new car, you may want to consider Gap Insurance. GAP stands for Guaranteed Asset Protection. According to Experian, Gap Insurance becomes effective if your car is totaled in an accident. In such cases, the GAP policy pays the difference between what your insurance policy covers for the loss of your vehicle and the remaining balance on your auto loan.

Many car loan companies require you to purchase a GAP policy when financing a vehicle. Receiving money from a GAP policy can be a relief after an accident, ensuring you don’t have an outstanding loan on a totaled car. It also satisfies the loan company, protecting their investment. Even if your dealer doesn’t require GAP insurance, it’s worth considering for added financial security.

Call Us for Your Appointment Today

Understanding all of your auto insurance options is essential. At Ed Thompson Insurance Agency, we have the experience and dedication to help you find the best auto policy for your needs. Drivers in the Omaha, NE area have come to rely on us for excellent customer service. Call us today to schedule an appointment, and let us help you get the insurance coverage you need.