Guaranteed Asset Protection

GAP

Buying a car opens doors to new experiences and unforgettable memories, but it also opens doors to potential unexpected expenses. Our Guaranteed Asset Protection (GAP) coverage protects you from paying large out-of-pocket expenses for the “gap” between your insurance settlement and the balance of your loan in case your vehicle is totaled or stolen.

Benefits

• Covers up to $50,000 of the gap between your insurance settlement and your loan or lease balance
• Covers up to $1,000 of your insurance deductible
• Covers loans up to 150%^* of your vehicle’s value, which leaves room to include other investments to protect your vehicle
• Protects your investment for the term of your loan, up to seven years

EasyCare GAP Protection must be purchased at the time of vehicle purchase. This one-time fee can be included in the financing of your new or used car, truck, or SUV.

How GAP Works

Let’s put it into perspective: You owe $14,000 on the loan or lease of your vehicle. Your insurance settlement value is $12,000, and your deductible is $1,000. After your deductible, you receive $11,000 from the insurance company.  This leaves you with a gap of $3,000 still owed on a vehicle you can no longer drive.