Guaranteed Asset Protection (GAP Insurance)

GAP stands for Guaranteed Asset Protection. It bridges the difference between what your vehicle is worth and what you still owe if your vehicle is written off or stolen and not recovered.

Most vehicles lose between 20 to 35 percent of their value in the first year. If your car is declared a total loss early in your ownership, you could still owe thousands more than your insurance payout. GAP Insurance is designed to eliminate that financial shortfall.

For example, if your loan balance is $65,000 and your insurance company pays $30,000, GAP coverage would pay the remaining $35,000. In addition, coverage may include up to $1,000 toward your insurance deductible, a $500 rental benefit, and a $500 loyalty credit if you purchase your next vehicle from Black Label Automotive Group.

Key benefits include coverage for loan shortfalls up to $40,000, deductible reimbursement, rental car assistance, and a loyalty bonus. GAP Insurance must be added before vehicle delivery.

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