Guaranteed Asset Protection
Auto insurance might not be enough. If your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared an insured total loss, your auto insurance will cover the replacement value. Nevertheless, you remain liable for payment of the difference between the insurance settlement and your loan balance. This deficiency can easily amount to thousands of dollars-money that comes out of your pocket for a vehicle that no longer exists.
GAP Protection Benefits:
• Protection for the term of your loan up to 84 months
• Coverage for vehicles valued up to $100,000 at time of purchase
• Payment of benefits up to $50,000
• Coverage for auto insurance deductibles up to $1,000.00
• Benefits for new or used vehicles, including cars, light trucks, motorcycles, and some other motorized vehicles
Your insurance settlement may not always cover your losses. Is your vehicle adequately protected?