When you purchase a brand new car, a quick chat with your auto insurance provider will reveal plenty of options available for protecting your most important investment:

Collision coverage. Unlike your standard liability insurance, collision coverage takes care of the damage caused to your vehicle if it hits another vehicle or object. Collision coverage usually makes sense only if the vehicle’s value is high enough to justify it, making it ideal for newer vehicles.

Comprehensive coverage. Any damage caused to your vehicle that’s not crash-related may be taken care of with this coverage. Such events include vandalism, theft, falling objects, animal damage, severe weather and natural disasters.

Guaranteed Asset Protection (GAP) insurance. In the event of an accident, this covers the difference between the vehicle’s actual cash value and the remaining amount owed on the loan or lease. GAP coverage helps prevent owners and leases from being “under water” on their loan or lease agreements by owing more than insurance payout amount.

If you have a lease or if you’re financing your vehicle, you may be required by your financial institution to carry these coverage options. Other auto insurance options include rental reimbursement, which covers the costs of renting a vehicle while yours is undergoing repairs and personal umbrella insurance, which provides additional coverage in the event a claim or judgment exceeds your liability limits.

To set up the above insurance options, simply get in touch with us to speak to an independent agent. We can also help you fine-tune your auto insurance policy to best benefit you and offer potential discounts depending on your particular circumstances.