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Gap insurance Archives - Horan Companies - CNY Insurance Agency

A totaled car on the street in Central New York.Car InsurancePersonal Insurance

Comprehensive vs. Collision Insurance: What’s the Difference?

Both comprehensive and collision coverage help pay for vehicle repairs and replacement. But the two types of coverage have their differences. Knowing those differences and the essential functions of these policy components will prepare you for unexpected damages to your vehicle. While neither comprehensive nor collision is required in New York (unless you’re financing or leasing a vehicle), the Horan agency strongly advises our clients to lock in these coverages depending on their circumstances. The protection they offer to the average Central New Yorker is worth far more than their respective deductibles. This article will demonstrate how they’ll benefit you…
January 20, 2023
Car InsurancePersonal Insurance

What does Gap Insurance do?

Question 46 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/OgLCTQvTS3U If you've ever financed a vehicle and suffered a total loss early on in the loan, you might have been upside down. Okay not literally, but you might have had no car, and $3,000 bill left to pay to the bank. Insurance carriers do not base their decisions upon the balance we owe to the bank, but rather the vehicle's current market value. Gap insurance will assist in this area. Watch the video to see more.
September 21, 2017