GAP: Guaranteed Asset Protection

You Deserve Peace of Mind

woman driving car with 2 kids in the backseat

At Protective Asset Protection, our mission is in our name. We are Protective. We protect your tomorrow so you can embrace today—providing the right solutions for you and your vehicle. We do what we say and stand behind what we do. This has resulted in our reputation of excellence in serving automobile owners for over 55 years.

Protect Against the Unexpected

In the event of a total loss due to unrecovered theft, collision, fire or any insured peril, your vehicle asset may be worth less than the amount you owe on your loan at the time of total loss. In many cases this will leave you responsible for paying the difference. If a covered loss occurs, GAP coverage will, in most cases, pay the difference between the actual cash value and the scheduled balance owed to the lender, net of refunds, plus the insurance deductible.

How GAP Coverage Works

gap insurance chart 1For purposes of the GAP calculation, this will generally be the lesser of the scheduled loan balance or the actual loan balance, minus refunds, if any, due to be received for the early termination of products such as credit insurance and service contracts. 2The GAP coverage benefit might not cancel the entire amount you owe at the time of loss. If debt-to-value exceeded 125% or 150% (depending on contract) on the GAP effective date, the GAP coverage benefit will be adjusted by subtracting the amount by which debt-to-value exceeded 125% or 150% (depending on contract).

GAP Coverage Highlights

  • Payable in the event of a total loss
  • Covers the difference, in most cases, between the scheduled asset pay-off amount net of refunds and the asset's actual cash value
  • Also covers your primary insurance deductible up to $1,0001
  • GAP coverage remains intact if your primary automotive insurance coverage lapses
  • GAP benefit covers up to $50,0002
  • Coverage available for most financed new and pre-owned vehicles
  • Can help protect your personal credit rating
  • 1Payment of deductible not available in all states.
  • 2Less any amount of the debt-to-value that exceeds 125% or 150% (depending on contract) at the time of purchase.
This brochure highlights key coverage provisions and terms. Coverage not available in all states. See your addendum for exact terms, coverage, limitations and exclusions. woman driving car

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Dealer Information
Northwest Auto Hub 2330 freeway Dr Mount Vernon, WA 98273 Get Directions
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