Don’t be left with a gap in coverage!
Our innovative approach and dedication to being different is redefining the GAP value proposition for dealers across Canada. Take the lead, stay ahead and let the competition catch up by partnering with us!
Traditionally, GAP has been positioned as a solution that delivers protection and peace of mind for customers who owe more on their vehicle than what insurance will cover for replacement.
But while you have your customers’ backs- who’s got yours?
With deep industry and insurance expertise, we’re educating dealers on the vital importance of partnering with a quality GAP provider to manage and mitigate business risks.
Don’t settle for coverage that’s just words on paper. Stay ahead, stay Smart, and avoid the cost of reacting by partnering with a provider who delivers more than just a product pitch.
What is Financial Gap
Insurance?
GAP insurance, sometimes referred to as “guaranteed asset protection” insurance, is coverage you can purchase that protects you if your vehicle is deemed a total loss or is stolen and not recovered. GAP insurance covers the difference between what you owe on your vehicle loan or lease and what your primary insurer has paid out.
In other words, GAP insurance comes in handy when the money from your insurance company isn’t enough to cover the balance of the money you borrowed to finance your vehicle
How GAP Insurance Works
Your vehicle has been rendered a total loss by your insurance company. A settlement has been offered to you, but it does not take care of the outstanding amount owing on your vehicle finance contract. You are left with a financial shortfall, and to make matters worse, you need a replacement vehicle.
This is where we come in!
$65,000 Loan or Lease Balance
- $30,000 Primary Insurer Payout
= $35,000 GAP
Learn More
Our offer is the evolution of financial protection products. We go “a step above” and provide superior protection for one of your most expensive lifetime purchases in a straightforward fashion.
DID YOU KNOW?
On average, a car is stolen every six minutes in Canada.
Source: Insurance Bureau of Canada
The frequency of a total loss occurring because of an unforeseen incident was 18% in 2019.
Source: Canadian Underwriter
On average, your vehicle will depreciate by 20% – 35% within the first year of ownership.
Source: Car Loans Canada
Our GAP insurance provides benefits, including:
- Outstanding debt coverage of up to $40,000.
- Physical damage insurance deductible up to $1,000.
- Unforeseen rental vehicle costs.
- A loyalty benefit of $500 for purchase of a replacement vehicle from the same dealership.
Looking for the Best Vehicle Protection Services in Canada?
Contact a sales representative or find a dealer near you to get protected today.