GAP coverage helps bridge the difference between your insurance payout and your remaining loan balance, up to 150% of MSRP. Coverage limits and exclusions apply. See contract for full details.
Depreciation in year one for new powersports and marine units. After a total loss, insurance often pays less than the remaining loan balance, leaving the customer with a shortfall. GAP helps offset that shortfall, subject to contract limits.
Customer finances a unit and adds GAP at the deal
Total loss event occurs (theft, accident, flood, etc.)
Insurance pays actual cash value — often less than loan balance
GAP applies toward the difference, up to 150% of MSRP and subject to contract terms
Total loss events covered by the customer's primary insurance policy, including accidents, theft, fire, flood, and natural disasters. Specific eligibility, limits, and exclusions are defined in the contract.
GAP coverage helps bridge the difference between your insurance payout and your remaining loan balance, up to 150% of MSRP. Coverage limits and exclusions apply. See contract for full details.
These units depreciate 15–40% in year one while loan balances decrease slowly. This creates a shortfall that standard insurance won't cover after a total loss — GAP helps offset it, subject to contract limits.
No. GAP coverage is available for both new and used financed units, though the shortfall is typically largest on new purchases.
After the primary insurance claim is settled, GAP coordinates with the lender to apply the GAP benefit toward the remaining balance, subject to the limits and exclusions in the contract. Most claims are resolved within 30 days.
Comprehensive mechanical breakdown coverage that protects your customers' equipment investment beyond the manufacturer warranty.
Theft benefit payment if a covered vehicle is not recovered within 30 days, plus a theft deterrent program. Benefit limits and exclusions apply. See contract for full details.
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