GAP INSURANCE
PROTECT YOUR INVESTMENT
COVERS THE GAP SO YOU DON'T HAVE TO PAY IT
If your vehicle is totaled or stolen, your insurance company will only pay the current cash value (actual cash value) — not what you still owe on your loan. GAP covers the difference between the insurance payout and your loan balance, so you aren't left paying for a car you no longer have.
KEY BENEFITS
COVERS THE DIFFERENCE
Pays the remaining balance on your loan.
PROTECTS YOU IF STOLEN
Coverage if your vehicle is totaled or stolen and not recovered.
HELPS AVOID OUT-OF-POCKET COSTS
You won't have to pay the difference.
DEDUCTIBLE COVERAGE
May cover your insurance deductible (up to plan limits).
AVAILABLE FOR MANY LOAN TERMS
Options for various loan amounts and terms.
EXAMPLE OF HOW GAP WORKS
- Loan Balance at Time of Loss:
- $25,000
- Insurance Settlement (ACV):
- $20,000
- Difference You Still Owe:
- $5,000
- GAP Pays:
- -$5,000
- What You Pay With GAP:
- $0