GAP is a deficiency balance waiver that waives the difference between insurance settlement and loan balance if a customer’s vehicle is deemed a total loss due to unrecovered theft or collision. It’s one of the many products we offer as part of our lineup!Our GAP product boasts 150% OR 125% LTV coverage, is inexpensive, and backed by an “A” rated carrier. Includes coverage for underlying insurance deductible up to $1000. Your customer will be protected and you will have a top of the line experience providing our product to your customers. Some vehicles are excluded from coverage for this program.
Our GAP Program is the easy-to-sell, profit-building product consumers are looking for! With GAP, if your customer’s car is stolen or totaled, the difference between the primary insurance settlement and the outstanding balance on their vehicle is covered!
This product is NOT reinsured unless you are a BHPH dealer, but we feel it may be a quality option for your dealership.
For the BHPH dealers, we have options to allow you to reinsure your gap because you are the lien holder.
Everyday I speak with apprehensive dealers who want to start their own reinsurance companies but have fears.