No one wants to be left in the dark during an unexpected loss. What does GAP stand for? GAP stands for Guaranteed Auto Protection, often called GAP Insurance. In the event of a total loss from theft, collision, fire, or another covered peril, your vehicle’s value may be less than what you still owe on your loan. That difference could leave you paying out of pocket. With Saccucci Honda’s GAP coverage, in most cases the plan will cover the gap between your insurance payout and the remaining balance on your loan, net of refunds.
If you were to claim a total loss due to theft, a collision, or fire in a brand-new car your insurance company probably wouldn't cover the cost of the remainder of your loan. Instead, they usually only cover the cost of replacing your vehicle with one of the same value. This is where GAP insurance comes in. GAP insurance will cover the difference between your car's depreciated value and what you actually owe on your auto loan.
*All vehicles may not qualify for all or any of these benefits.
Please contact us with any further questions about our GAP coverage offer.
