Guaranteed Asset Protection (GAP) is a unique program that protects you from the potential financial burden that may result from your vehicle being declared a total loss, if your insurance settlement does not cover the full amount of your loan or lease payoff.
Additional benefits:
GAP Plus Vehicle Replacement Credit Provides a credit toward a replacement vehicle from the original dealer/creditor within 90 days of a total loss. Vehicle replacement credit is not available in AL, KS, NE, NY, TN, TX, WV.
What’s not covered:
Towing charges, rental fees, storage charges, administrative fees, salvage value, damage resulting from bodily injury or property damage liability, physical damage, medical payments, personal injury protection, uninsured motorist, underinsured motorist, self-financed vehicles, loss as a result of criminal acts, misrepresentation of fact, race or speed contest, vehicles classified as a lemon, resulting from wear and tear, gradual deterioration, obsolescence, rust, corrosion, latent defect, inherent vice, freezing, overheating.
