|Gap is a unique
coverage program that protects you from financial disaster in case your
vehicle is stolen, or totaled. Here's why: as your vehicle gets older,
the actual cash value (ACV) declines, while your lease or loan balance
may remain higher than what the insurance company will pay you. Your are
then liable for the difference between what the insurance company pays
you and what you owe.
Many people do not realize that they are responsible for
that balance owed on the vehicle. GAP covers the difference between your
loan or lease balance and your insurance settlement. In other words, if
you insurance does cover the cost fo the totaled or stolen vehicle YOU HAVE TO PAY THE DIFFERENCE.
WITH GAP COVERAGE, THAT DIFFERENCE IS WAIVED.
You are covered 100% in case your vehicle is stolen or
totaled. Even your deductible is covered! GAP is real peace of mind.
(Please see contract for the specific terms and conditions of coverage.)
Gap Protection Program Coverages: