Guaranteed Asset Protection (GAP)
Wheel and Tire Road Hazard Protection Plans
When the unpredictable happens, be prepared with Guaranteed Asset Protection (GAP) coverage. You may find yourself in a difficult financial position if your vehicle is in an accident or stolen and the insurance claims settlement is less than what you owe on your loan. When you consider the insurance deductible and vehicle depreciation, the difference can amount to thousands of dollars.
Don't get caught short-handed when disaster strikes.
GAP insurance is designed to protect you from substantial financial burden by offering coverage for the difference between an insurance settlement and the loan amount on a vehicle.
Here's an example of how it works. In this example, let’s assume you have a $25,000 outstanding loan:
With low premiums that can be applied to your monthly payment, GAP Insurance is an inexpensive and easy way to achieve complete peace of mind with your new or pre-owned RV.
| Your RV’s actual cash value Insurance deductible Insurance settlement |
$19,000 - 1,000 $18,000 |
| Your remaining loan balance Insurance settlement Value still owed on loan |
$25,000 - 18,000 $ 7,000 |
| Total GAP Benefit | $ 7,000 |
Have Questions?
Contact the friendly Business Manager at your Campers Inn RV location with any questions using the form below.
