Guaranteed Asset Protection
In the unfortunate event of a total loss or an unrecovered theft, your clients may find themselves in a situation where the value of their watercraft is lower than the outstanding loan amount. This could leave them responsible for covering the deficit.
With GAP coverage, in most states, your clients can rest assured. It steps in to bridge the gap between the actual cash value and the remaining balance owed to the lender, net of refunds, in case of a covered loss.
With GAP coverage, in most states, your clients can rest assured. It steps in to bridge the gap between the actual cash value and the remaining balance owed to the lender, net of refunds, in case of a covered loss.
Gap Coverage Example
Actual Cash Value
$
0
Less the Insurance Deductible
$
0
Insurance Check
$
0
Loan Balance Payoff
$
0
GAP BENEFIT
$
0
GAP Coverage Highlights
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Exclusionary coverage available
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Up to 8 year term options designed to wrap around the manufacturer’s engine warranty
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Deductible options: $50, $100, $250, $500
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Coverage extends to Bahamas, U.S Virgin Islands, Puerto Rico & Canada