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Ohio licensed, located. Serving Ohio residents and business owners. |
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summit home | auto & more | homeowners/renters |
business protection | life &
health | service center |
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Ohio licensed, located. Serving Ohio residents and business owners. |
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summit home | auto & more | homeowners/renters |
business protection | life &
health | service center |
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Coming Soon...Buy AUTO insurance instantly online! |
Lease Loan Gap Coverage
If you are thinking about leasing or buying a car, you might consider adding Lease Loan Gap Coverage to your auto policy. LLG Coverage is an extension of your auto's physical damage coverage.
Ordinarily, your comprehensive and collision coverages provide you with up to the actual cash value (the vehicle's cost minus depreciation) in the event of a total loss. When you sign a lease or loan agreement, you may be obligating yourself for an amount higher than the vehicle's actual cash value.
At a cost of approximately 5% of your current comprehensive and collision premiums, LLG Coverage protects you from the out-of-pocket expense when such a "gap" occurs. Although there are some limitations, LLG Coverage will pay up to your lease or loan amount if your car is stolen or if repairs cost more than its salvage value.
Note: Some car manufacturers may provide gap coverage as part of the lease agreement --- check your particular contract for details.
For more info check out "Must Know" info below.
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Unsure of how much coverage you should have? Click here>
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Summit Insurance Agency 5170 Darrow Rd. Copyright © 2006 - Summit Insurance Agency |
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