GAP PLUS
(GUARANTEED AUTO PROTECTION)
What is GAP PLUS?
It's the insurance you can purchase at the time that you get your vehicle loan
which covers the difference between your insurance payoff and the balance left
owed on your loan in the event that your vehicle has been totalled. When applying
for your vehicle loan, simply ask your loan officer to sign you up for the program.
The cost for the GAP PLUS can be added to your loan.
PROGRAM HIGHTLIGHTS
-
ALL RISK PROTECTION - Protects against financial loss in the event the vehicle is declared a total loss due to fire, theft, collision, or any insured peril.
-
AVAILABLE FOR NEW AND PRE-OWNED VEHICLES - There are no model or year limitations.
-
VEHICLES VALUED UP TO $100,000.00 - Limited exclusions apply only to commercial, rare, exotic, unusual, limited production, one-of-kind, kit, customized, or vehicles over 10,000 GVW.
-
BENEFITS ARE PAID ON ALL ELIGIBLE CLAIMS
-
DEDUCTIBLES UP TO $1,000.00 ARE COVERED - Underlying insurance deductibles up to $1,000.00 are automatically reimbursed in the coverage/benefit payment.
-
PROTECTION FOR THE TERM OF THE LOAN
-
PROGRAM HAS NO MSRP OR ACV RESTRICTIONS
-
CANCELLATION PROVISIONS - All individual waivers are flat cancelable within the first sixty (60) days of coverage. After the first sixty (60) days, no refund will be made.
-
SIMPLIFIED, SINGLE RATE STRUCTURE - This means same price for everyone no matter how much borrowed or what type of vehicle.
-
INSURANCE REQUIREMENT - To be eligible for and to continue coverage, insurance on the covered vehicle must be maintained by the consumer at all times.
-
FULL INSURANCE COVERAGE - Coverage is effective with purchase. Insurance carrier is "A+" rated by A.M. Best or "AAA" by Standard and Poors.
EXAMPLES OF VEHICLES COVERED:
Motorcycles, ATV's, Snowmobiles, Pop Ups, Personal Watercraft, Vans,
Boats, Light Trucks, automobile etc.
SEE LOAN OFFICER FOR MORE DETAILS.
