GAP Protection
Warrantech Edge Plus GAP Protection
Coverage designed to protect you against financial loss
"GAP" is short for Guaranteed Asset Protection, and it describes the financial exposure you could incur if your vehicle becomes stolen or involved in an accident that results in a total loss.
Most insurance companies only reimburse the owner for the market value of the vehicle. Your loan or lease balance may be more than your insurance settlement. Along with your insurance deductible, this "GAP" in coverage becomes your financial burden. Our GAP Protection Program provides protection for up to 150% of the retail value of your vehicle.
How GAP Works
Without GAP Protection
| Loan/Lease Payoff | $18,000 |
|
Insurance Settlement* |
-$13,000 |
| Amount Still Owed | $ 5,000 |
|
Insurance Deductible |
+$ 1,000 |
| Total Owed | $ 6,000 |
|
Out-of-Pocket without GAP |
$ 6,000 |
Without GAP Protection
| Loan/Lease Payoff | $18,000 |
|
Insurance Settlement* |
-$13,000 |
| Amount Still Owed | $ 5,000 |
|
Insurance Deductible |
+$ 1,000 |
| Total Owed | $ 6,000 |
|
Out-of-Pocket with GAP |
$0 |
*Actual Cash Value of Vehicle
| Monday | 9:00AM - 7:00PM |
| Tuesday | 9:00AM - 6:00PM |
| Wednesday | 9:00AM - 6:00PM |
| Thursday | 9:00AM - 7:00PM |
| Friday | 9:00AM - 6:00PM |
| Saturday | 9:00AM - 4:00PM |
| Sunday | Closed |
| Monday | 7:00AM - 6:00PM |
| Tuesday | 7:00AM - 6:00PM |
| Wednesday | 7:00AM - 6:00PM |
| Thursday | 7:00AM - 6:00PM |
| Friday | 7:00AM - 6:00PM |
| Saturday | 8:00AM - 12:00PM |
| Sunday | Closed |
| Monday | 7:00AM - 6:00PM |
| Tuesday | 7:00AM - 6:00PM |
| Wednesday | 7:00AM - 6:00PM |
| Thursday | 7:00AM - 6:00PM |
| Friday | 7:00AM - 6:00PM |
| Saturday | 8:00AM - 12:00PM |
| Sunday | Closed |