Gap Insurance Protection

Tree sitting on top of a car

The last thing a customer wants to think about when they’re driving away in their brand new car is the total loss of their vehicle due to an accident or theft. Yet, it’s important to discuss this eventuality and help your customers sort out their options. One important benefit you can offer is GAP insurance.

What Is Gap Insurance?

Many customers will ask the question what is GAP insurance? As a conscientious dealer, you’ll want to be prepared with the right answer.

In the simplest terms GAP insurance protects the financial interest of your customers in the event of a total loss of a vehicle. The fact is, insurance companies rarely pay out the entire cost of a vehicle loss to the consumer. For example, your customer may have just paid $25,000 for their vehicle, but in the event of a total loss, the insurance company may only pay out $20,000 for a replacement vehicle due to a number of factors. If the customer has financed the car, there may be a gap between what they still owe for the vehicle and the payout they’ll get through their insurance. This can be a devastating financial burden.

Gap protection helps to close this gap by paying the difference between what the insurance company pays and the balance due for the car.

gap-insurance

ADM Marketing offers a variety of GAP protection plans that ensure your customers won’t have to worry about the financial burden a total vehicle loss can cause. Our GAP protection plans offer many desirable features that take the burden out of a new car purchase.

GAP Insurance Plan Highlights

  • Protection for your customer’s credit record
  • In the event of a loss, the dealer remains the point of contact, encouraging repeat business
  • Waives the debt on the loan or lease in the event of a total loss
  • Covers your customer’s primary insurance deductible up to $1,000.00
  • Some plans provide $1,000.00 towards a replacement vehicle at the issuing dealer, where allowed by law.
  • Offers protection for vehicles with a loan amount of up to $100,000.00 at the time of purchase
  • Up to 84 months of protection available

Find out more!

Find out more about the benefits of adding GAP insurance to your dealership offerings to increase revenue and promote customer satisfaction. Contact ADM Marketing today for details!