Sarina Fazan – So what is comp, collision and gap coverage?
Royce Haddad – Comprehensive coverage covers your vehicle for fire, theft, flood. If you live in certain places here in St. Pete, a good thunderstorm, your car might be flooding. That’s what comprehensive coverage does, covers your vehicle for all other perils, other than a collision. Collision coverage covers your vehicle if you cause an accident, that way can get your car fixed. Or, again in this state, there’s a lot of uninsured drivers. I think we lead the nation in uninsured drivers. Someone else hits you, they don’t have the property damage required, your collision coverage will get your car fixed. Lastly, I would tell you that when you go to finance a vehicle or buy a car, oftentimes you’ll be offered something called gap insurance. Believe it or not, it’s one of those things where I would tell a lot of people to consider it and look at it.
Royce Haddad – Dealers want to sell you a lot of stuff, but this is actually a valuable coverage that can help you. And what that does is if you’re upside down on the car, meaning you owe more money than it’s worth, and you get into an accident, your gap insurance will cover the difference between what you owe and the value of the vehicle. So you get in a car accident, you owe $20,000 on a vehicle. It’s only worth 10. The insurance company’s going to write a $10,000 check to the finance company and then gap insurance would kick in and cover that remaining $10,000, so that you’re not paying on a car note for a totaled vehicle that you no longer own. So gap insurance, especially if you’re buying a car that you think you’re going to be highly leveraged in, I think that’s good coverage to get as well.
Sarina Fazan – Excellent.