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Guaranteed Asset Protection

Guaranteed Asset Protection (GAP) provides valuable financial security in the event of a customer鈥檚 vehicle being declared a total loss by helping to cover the remainder of the customer鈥檚 loan or lease balance. Ensure a worry-free ownership experience by offering GAP.
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This protection is ideal for

Auto
Marine
Powersports
RV
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Benefits

GAP provides financial protection when your customers need it most, without a deductible

  • Waives some or all of the financial gap following a total loss, providing coverage that goes beyond insurance payouts.
  • Reduces customers鈥� financial burden by covering their insurance deductible, where permitted.
  • Enhances customer loyalty and peace of mind with protection against unexpected financial challenges.
Research shows that new cars lose 20% of their value within the first year of ownership.
The average new-car loan duration in the first quarter of 2023 was 68.6 months, while used-car loans averaged 67.4 months
Some lenders offer loans that extend up to 96 months or longer.
GAP provides significant financial security in the event of a total loss, ensuring customers are protected from unexpected financial strains.
Frequently Asked Questions

Common Questions About Guaranteed Asset Protection

Whether you鈥檙e looking for more information on product features or service details, we have a range of helpful insights. If you don鈥檛 find the answer you need, please contact us directly for personalized support.

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Note

  • The maximum financial 鈥済ap鈥� amount waived and other terms and conditions will vary depending on the product agreement.
  • Primary insurance deductible coverage may not be available in all provinces and territories

Fact sources:

Limitations and exclusions apply. The Guaranteed Asset Protection (GAP) product is optional and is not necessarily insurance. Coverage may vary by product agreement and province. Please see the applicable product agreement for details of terms and conditions.