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Gap Protection

Gap Protection protects your credit and your investment.
 
  • The book value of a vehicle often decreases more rapidly than the amount owed leaving a gap in coverage.
  • Did you know that in the event your vehicle is a total loss, your primary automotive insurance may not provide enough money to pay it off or replace it?
  • Every year, over 8 million vehicles are totaled in events such as collision, theft, and natural disasters. Very often, your insurance settlement is thousands of dollars less than what you still owe on your auto loan?
  • Why? It is due to conservative insurance settlements, longer-term loans, higher costs for new and used vehicles, interest fees, and the use of accelerated depreciation schedules.
  • If catastrophe strikes, you are responsible for the difference between the insurance value of your car and your outstanding loan balance.
  • YOU could end up paying thousands of dollars out of your own pocket for the difference on a car that you no longer own.
Now you can obtain Gap Protection for a few dollars a month
 
  • Protect your investment and your credit rating.
  • That's protection you can use! A totaled vehicle should not create a financial hardship, cost you out of pocket money, or reduce your ability to replace your vehicle.

GAP COVERS Primary Insurance deductible up to $1000

GAP does NOT include:

  • Portion of underlying loan/installment sales contract/leas amount that exceeds either: 130% of MSRP ( New Cars) - or 130% retail book value ( Used Collateral)
  • Any refundable additions to loan/installment sales contract/lease amount
  • Late charges, fees added after inception.
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