GAP Insurance

From the moment you drive off the lot with a new or used financed or leased vehicle, you are "upside-down".

In the event of a total loss, (accident or theft) your auto insurance policy will only pay the Actual Cash Value (ACV) of your vehicle less your deductible. This amount may be substantially less than the loan or lease payoff balance to your bank or finance company.

The difference between the insurance company settlement and the payoff of the lease or loan is the deficiency balance, which we call the “GAP”. This amount also includes your deductible.

For as low as $9.50 a month, you are protected for up to $5,000 of GAP Coverage to your Finance Company.

For the first few years of each lease or loan, this amount is usually several thousand dollars.

You may purchase a GAP policy at anytime during your loan for a new, used or leased vehicle with terms to match your loan agreement.
If you change vehicles, we can update your policy with your new car and Lien-holder.

No need to buy another GAP policy from the dealer.

You may also add cars to your GAP policy and receive a multi-car discount, insuring two or more cars on the same policy.