GAP Coverage (Guaranteed Asset Protection)
What is GAP Insurance:
If you decide to finance your new trailer, GAP Insurance helps to bridge the gap between what you owe on your trailer and what it is worth at the time of an incident.
If your RV is claimed as damaged or stolen, your insurance company may offer you less than what you still owe on the trailer. With this protection plan, your insurer can provide financial coverage by assisting in paying off your loan or deductible.
When to Sign Up for GAP Insurance:
It is beneficial to sign up for GAP when:
- Your down payment was less than 20% of the total cost
- If your loan longer than 60 months
Speak to our Finance Manager about adding Gap Coverage on your RV.