Gap Insurance

In the event of theft or an accident that would cause total loss, insurance companies typically only reimburse the owner of the vehicle for the current market value of the property. That can cause problems for you, particularly if you owe more than what the insurance company determines is current market value. In such cases, you have a “gap” in coverage, which is where gap insurance comes in. Purchasing gap insurance (not applicable in all states) closes that lapse in coverage and ensures that you will be reimbursed for the actual value of the vehicle. Here’s how it works:

Loan/Mortgage Balance = $150,000

Insurance Settlement = $135,000

Insurance Deductible = $1000

Potential Expenses = $14,000

Gap Protection Amount = $14,000

Service Contracts

(AKA Warranties) A must-have on units. Extends the length of coverage for mechanical breakdown repairs beyond the manufacturer’s warranty. Covers the power train, accessories, even roadside assistance or package it all into one. Protect your investment with or array of products.