Guaranteed Auto Protection Program (GAP Insurance)

Your Auto Insurance Does Not Cover Everything.

Few things can be more devastating to a motorist than experiencing a total vehicle loss.

If you are making payments on your vehicle, GAP Waiver Coverage can minimize or even eliminate your financial obligation if your vehicle is declared a total loss. The primary auto insurance settlement is generally based on vehicle market value, which could be less than what you still owe on your finance or lease contract. So who pays the remainder? You do – unless you have Guaranteed Auto Protection (GAP).

Our GAP Waiver program is designed to help protect you and your family from the unexpected financial burden if your vehicle is declared a total loss from causes such as accident, fire, theft, or flood. GAP Waiver Coverage will pay the difference, or deficiency, between your vehicle’s market value and the balance on your finance or lease contract, including up to $1,000 of your auto insurance deductible (if applicable) in most states.

Example:

Benefits of GAP Waiver Coverage

  • Protection for the term of your loan, up to 84 months
  • Covers vehicles valued up to $100,000 at the time of purchase
  • Coverage for auto insurance deductibles as part of your GAP claim settlement up to $1,000
  • Payment of benefits up to $50,000
  • Optional GAP Plus Program pays $1,000 directly to your dealer toward the cost of your replacement vehicle
  • Helps to protect your personal credit rating
  • Helps to protect your savings

This Guaranteed Auto Protection Program provides you these important additional benefits:

  • Security: Pays off the deficiency between your vehicle’s market value and the balance on your finance or lease contract plus your deductible, in the event of a total loss.**
  • Flexibility: GAP protection is available to cover most types of financial contracts, including loans, balloon loans, and leases.
  • Convenience: For just a small addition to your monthly payment, you are protected for the life of your loan or lease.
  • Freedom: Allows you the freedom to purchase or lease a replacement vehicle right away. With the GAP Plus program, provides an amount directly to your dealer to apply to the down payment of your replacement vehicle.
State restrictions may apply.
**May not pay off the entire deficiency in all circumstances. Please see your contract for specific details of the terms and conditions of coverage.

 

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