In its short form, Guaranteed Asset Protection is referred to as GAP, and this will pay the difference between the actual cash value or the ACV and the loan balance of your Powersports vehicle is declared to be a total loss ever.
Customers can get this protection for motorcycles and other vehicles of Powersports so that they can get total peace of mind and enjoy their vehicles fully.
How does the Powersports gap 150 total loss protection work?
The Powersports gap 150 total loss protection works in a unique way. If the vehicle is considered to be a total loss in the following circumstances, this protection comes into play-
- The damage that the vehicle suffers in any accident raises its repair or salvage cost, which is more than the value that was insured.
- The vehicle has been stolen and is irrecoverable.
Most of the above losses have taken plan in the first six months of the vehicle ownership.
Generally, even if there is a total loss of the vehicle, you still need to incur payments for the difference between the amount that you owe to the dealer (this payment is based on the Retail Instalment Sales Contract) and the Actual Cash Value of your Powersports vehicle at the time it has been declared to be a total loss.
The Powersports Gap Protection will step in to pay the difference in this amount instead. By helping you withthe GAP Powersports loan, the Protective Asset Protection Program permits every customer to stay safe with the knowledge they will not financially suffer after a theft or accident of their vehicle.
The importance of this GAP Protection
The Powersports GAP Protection is significant today. The loan advances from banks are becoming higher today; customers often find themselves with more debt when there is a total loss.
When most customers buy a Powersports vehicle, they commence the loan with a negative balance that originates from depreciation.
The highest GAP coverage you can get in the industry today
This GAP Protection is considered the highest coverage offered by any company in the whole industry of Powersports.
Its objective is to ensure that customers get the best Powersports GAP Asset Protection that is possible in the industry.
The protection is applicable to every Powersports vehicle, and so it will not matter whether you own a motorcycle or an ATV.
This GAP insurance safeguards credit and reduces the likelihood of you making a payment on the vehicle that has suffered a total loss.
The Powersports gap 150 total loss protection starts immediately and can be canceled at any time. You are able to receive up to $1000 of the insurance deductible of the customer.
The GAP 150 is the highest protection GAP coverage available in the industry today. It is available for both new and pre-owned Powersports financed vehicles.
In order to find out more about this protection in detail, you should talk to specialists in the field. They will address all your personal concerns and questions with success!