Guaranteed Auto Protection (GAP)
Will your insurance pay off your loan if your car is totaled?
Don't learn about GAP risk the hard way! If your vehicle is totaled or stolen, your primary insurance will usually pay only the actual cash value (current market value) of your vehicle, less your deductible.
The result could be a financial GAP where you must pay the difference between your loan balance and your insurance settlement. This could mean thousands of dollars out of your pocket.
|Original Amount Borrowed:||$18,000|
|Amount still owed at time of loss||$15,000|
|Vehicle value after 1 year||- $10,000|
|Primary Insurance Deductible||- $500|
|Total you are responsible for (your gap)||$5,500|
|GAP coverage may help pay||- $5,500|
|Total estimated out of pocket expense with GAP||$0|
What are your chances of having a GAP? Click here to find out!
Helps eliminate this out of pocket expense with GAP from SAFE. With Guaranteed Auto Protection, you receive the following benefits:
- Helps eliminate "out-of-pocket" expense for remaining loan balance after loss settlement
- Helps protect credit rating
- Helps borrower to purchase replacement vehicle
Who needs GAP? Click here to learn more about your risk.
Click here for questions on this cost-effective way to eliminate your GAP risk, call (916) 979-SAFE or (800) 733-7233 or visit any SAFE branch.