The cost to repair a luxury car's engine or transmission can be quite high. Replacement parts for luxury cars are expensive, and you also may need to find a specialist mechanic who has the expertise necessary to work on imported vehicles. If you can't immediately afford the cost of repairs, you may have trouble finding regular transportation to school and work, which will greatly interfere with your life. One way that you can protect yourself from high out-of-pocket repair costs is by carrying mechanical breakdown insurance on your car insurance policy.

When you purchase car insurance for your vehicle for the first time, the dealer will ensure you have automotive insurance before you pull your vehicle off the lot. Although you may only think you need collision and liability insurance, you may need gap insurance. What is gap insurance, and why would you need it? Read on for more information.  What is Gap Insurance? Guaranteed Asset Protection Insurance, or gap insurance, is optional insurance coverage.