In time of a total loss, GAP covers the difference between the actual cash value of the collateral (primary insurance settlement, plus the actual deductible up to $1,000) and the outstanding loan/lease balance at the time of a loss, less certain deductions.
- Maximum Loss Per Occurrence - $50,00
- Primary Carrier Deductible Coverage Limit - $1,000 (unless restricted by state)
- Maximum Loan Term - 84 months
- Maximum Loan Amount - $100,000 or up to 150% of MSRP or NADA, whichever is less
- No Model year restrictions
OUR OTHER GAP PROGRAMS INCLUDE:
- ATV's & UTV's
- Personal Watercraft
- RV and Motor Homes
- Travel Trailers
- Cancellations and Claims may be submitted online.
- Real-time access to enrollment and claim information.
- Online technical support.
- Special customized programs also available or banks and credit unions.
Our administration team has over 40 years experience in providing market specialty insurance programs to institutional lenders, with over $100,000,000 in net written premium.
Call us today to learn more about these excellent programs.