A GAP plan enhances your existing insurance coverage
Consider this: your vehicle drops in value the second you leave the dealer’s lot. And your vehicle’s value will sharply decline during the first few years of ownership. This means your loan or lease balance could be higher than your vehicle value if your vehicle is stolen or totaled.
That’s where a Guaranteed Asset Protection (GAP) plan makes sense. It’s a voluntary, non-insurance program that waives the difference between your primary insurance company’s settlement and the payoff of your loan balance up to a certain loan-to-value maximum, less any exclusions or limitations. Included in this waiver is your insurance deductible up to $1,000.*