Gap Protection
PROTECTION FOR THE UNEXPECTED
The optional GAP Waiver amends the financing contract that is between you and the dealer, or if assigned with the financial institution/assigned lender.
Programs and coverages may vary by state/lender. Please refer to the GAP Waiver for additional terms, conditions, limitations, and exclusions. You can also cancel the GAP coverage at any time in accordance with the GAP Waiver. For questions, contact the administrator at: 800-548-1875.
SUMMARY OF FEATURES & BENEFITS(1)
- Helps protect vehicles valued up to $125,000
- Maximum loan term up to 84 months
- Waives losses up to $50,000
- Primary insurance deductible covered up to $1,000
- Available for new and used motor vehicles
- Private passenger business use available
DON’T GET CAUGHT UPSIDE DOWN
In the event of a total loss, your primary insurance carrier covers the value of the vehicle less your deductible, leaving you to pay the remaining outstanding balance on the loan or lease.
GAP may waive the difference between the primary insurance settlement(1) and the outstanding balance on the vehicle as of the date of loss. You will remain responsible for any outstanding balance that may not be waived as stated under EXCLUSIONS, CONDITIONS, and MAXIMUM COVERAGE LIMITATIONS. Ask your dealer about adding this optional waiver coverage to your financing agreement.
(1) Refer to GAP Waiver for additional terms, conditions, limitations, and exclusions.
(2) As determined by your primary insurance carrier, or insurance industry standard if there is no primary carrier at time of loss.
This material is for marketing purposes only.
Without GAP protection, you could be faced with the burden of paying off your loan or lease, leaving you with making payments on a vehicle that you are no longer able to drive.