auto-insurance

Auto Insurance

Family Protection and Asset protection - the PRI advantage


PRI underwrites to over 50 insurance companies which allows us to find the very best insurance coverage for your vehicle and your family.
Be sure to ask about Gap insurance

Things you should know:

Vehicle insurance (also known as auto insurance, car insurance, or motor insurance) is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise.

To a lesser degree vehicle insurance may additionally offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions. It is compulsory to have vehicle insurance before using or keeping a motor vehicle on public roads.

GAP insurance

GAP Insurance is also known as Guaranteed Auto Protection or Guaranteed Asset Protection and as GAP within the North American financial industry. GAP insurance covers the difference between the actual cash value of a vehicle and the balance still owed on the financing (car loan, lease, etc.). GAP coverage is mainly used on new and used small vehicles (cars and trucks) and heavy trucks. Some financing companies and lease contracts require it.

GAP insurance covers the amount on a loan that is the difference between the asset value and the amount covered by another insurance policy. Some GAP policies also cover the deductible. This coverage is marketed for low down payment loans, high interest rate loans and loans with 60 month or longer terms. GAP insurance is typically offered by a finance company at time of purchase. Most auto insurance companies offer this coverage to consumers. GAP insurance is usually paid upfront and, for that reason, one is eligible for a refund if he/she sells or refinances their vehicle.