If a customer totals their car, the insurance company may place a value on the vehicle that is less than the amount that the customer owes on the loan or lease. In addition to the deductible, the customer is now responsible for the remainder of the loan or lease.
GAP protection insurance takes care of the remainder of the loan or lease brought on by a low insurance settlement. Offer your customers peace of mind through a full settlement policy that covers up to 150% of the retail cost of their vehicle including the deductible.
From low-cost plans to maximum coverage programs, Apollo offers multiple GAP options. We can determine the perfect plan to fit the needs of any dealership including GAP for commercial vehicles which most insurance carriers do not cover. There are even reinsurance plans available to help maximize profitability.
- 125% and 150% MSRP/NADA for automobiles, motorcycles, commercial vehicles, medium duty commercial trucks and vans
- 115% MSRP/NADA for heavy-duty commercial trucks and vans
- Available for loans and leases
- Available for franchise and independent dealers
- Maximum GAP benefit $50,000
- Maximum term 84 months