Vehicle Loss Assist
MYTH: You have insurance and you have Guaranteed Asset Protection (GAP) that will cover all your costs if your car is a total loss from theft or collision.
REALITY: Even with insurance and GAP, you could still have substantial expenses. That’s because your GAP only covers the difference between what your primary coverage pays and the lease/loan payoff. GAP does not cover inception expenses for a new lease/loan. That leaves you without a car or with significant out – of – pocket expenses to initiate a new lease/loan.
Vehicle Loss Assist offers you added protection in the event of a total loss
What Vehicle Loss Assist Is: It’s added protection that wraps around the GAP coverage included in your lease or loan to offer you more protection from financial loss.
Why You Need It: Vehicle Loss Assist fills the gap left by your existing GAP coverage. While GAP protection helps pay off the lease or loan on your stolen or totaled vehicle, Vehicle Loss Assist helps you get a new one by defraying down payment and inception costs.
What You Can Expect: In the event you suffer a total loss and your insurance company does not satisfy your loan or lease in full, Vehicle Loss Assist will pay your selected benefit amount after your GAP coverage payment has been applied.