The Honda finance support you’ll find here at Honda Van Nuys is comprehensive and extends to vehicle purchasing and leasing. In addition to your loan or lease, you should know about the different types of insurance required by the state and some that are good to have for your peace of mind. If you have questions, bring them to our Honda dealership.
Liability Coverage
Liability coverage is likely what you think of when you think of car insurance. In most places, drivers are legally required to purchase liability insurance, including coverage for bodily injury and property damage. This is the smallest amount of insurance you can have when you drive, but there are other types you can add.
Collision Coverage
Another common type of insurance is collision coverage, designed to protect you and your vehicle in the event of a collision. The loan or lease on your new Honda car will often require collision coverage.
Comprehensive Coverage
Comprehensive coverage is also typically a requirement for leased vehicles. It goes beyond regular liability coverage to include theft, fire, hail, vandalism, and other car damage beyond your control.
GAP Insurance
GAP insurance is a good option for leaseholders and may also be a requirement for leasing a vehicle. It stands for Guaranteed Asset Protection Insurance and essentially bridges the gap between the car’s depreciated value and its insured value. In the event of theft or damage, GAP insurance will help ensure you see the total value of your vehicle returned for repairs or replacements.
Here at Honda Van Nuys, we’re decoding insurance terms and options so drivers can get the protection they deserve every time. Visit our Honda finance team to learn more about how to protect your Honda vehicle out on the open road.
