GAP – Guaranteed Asset Protection
GAP is available on vehicle, boat, motorcycle or RV’s. If it happens to get stolen or involved in a major accident, GAP could protect your investment. During the first few years, vehicles tend to depreciate faster than loan balances. Most insurance policies only cover the value of your vehicle if they are stolen or wrecked. You can protect your vehicle, boat, motorcycle, or RV investment with Guaranteed Asset Protection (GAP). GAP is a non-insurance product, and is made available by a loan deficiency waiver, that covers the “gap” between the vehicle’s value and the amount you still owe. Essentially, GAP protects you and your entire investment from substantial loss.