Gap insurance, as its name implies, is designed to fill the gap that may exist (i.e., prevent a financial loss) between the RV’s actual cash value (ACV) and the outstanding balance of the RV’s loan or lease. RV gap insurance essentially protects an RV owner if an accident should occur and the RV is deemed a complete and total loss. RV owners in and around the greater Aurora, CO interested in learning more about how gap insurance can protect you can contact the insurance professionals at All-Star Insurance Brokers Inc.

Here is an example of when RV gap insurance becomes important:

When you purchase an RV (or pretty much any asset), its value depreciates over time. Should an unfortunate incident create a total RV loss, the recreational vehicle’s primary insurance coverage will only provide coverage for the RV’s actual cash value – at the time of the event/loss.

RV Gap insurance, should the actual cash value be lower than the outstanding loan/lease on the RV, covers the difference between the two. Having gap insurance prevents what could be a substantial loss, i.e., from an accident, theft, etc. Note that gap insurance does not offer protection against –

• Regular wear and tear.
• Minor accidents.
• Mechanical breakdowns and other damages that may be covered by primary policies.

Contact a Leading Aurora, CO Insurance Company Today

RV Gap insurance can help ensure an existing loan/lease is paid in full should the vehicle or RV be considered a total loss – and offers great protection (and peace of mind) for the right RV owner – for just a small premium or fee. Contact the licensed professionals at All-Star Insurance Brokers Inc for additional information on RV Gap insurance.