GAP Coverage

When your vehicle is stolen or damaged beyond repair,

GAP cancels your debt! If you’re making payments on a

vehicle that’s stolen or damaged beyond repair, auto insurance

alone may not pay everything you owe. Insurance typically

pays the vehicle’s actual cash value rather than the amount

remaining on your loan or lease, which could leave a fi nancial

“gap” of thousands of dollars.

GAP coverage gives you peace of mind. If your insurance

company determines that your vehicle is a total loss, GAP

covers the remaining balance (up to $50,000) on your loan or

lease after the payment from your insurance company.*

Your deductible (up to $1,000) may be included in this

balance. (Deductible benefi t may vary by state.)


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