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What is GAP Plus?

Guaranteed Asset Protection (GAP) Plus helps cancel the difference between a vehicle's actual cash value and the loan balance in the event that your vehicle is totaled.

How Could GAP Plus Benefit Me?

Could I be at risk? Many borrowers do not realize that they may be at risk. Guaranteed Asset Protection (GAP) Plus helps by enhancing your auto insurance policy by providing financial security in the event your vehicle is totaled. If your vehicle is stolen or damaged beyond repair, GAP Plus helps ease your financial burden by paying the potentially high-cost between your auto insurance settlement and the remaining loan balance (negative equity). GAP Plus is a must have when purchasing a new vehicle loan, due to the depreciation that occurs once that new car is driven off the dealers lot. Putting less than 20% down on your vehicle purchase means you could be "upside down" on your loan-to-value ratio for the next two to three years when purchasing a new or used vehicle.

How It Works:
  • The typical car insurance policy purchased is an Actual Cash Value (ACV), unless specified otherwise. ACV policies means the fair market value of the car before the accident.
  • If there is a Total Loss or Unrecovered Theft Loss of the Vehicle, which results in a gap, your GAP Plus policy will cover the protected balance less the Net Settlement.
  • GAP Plus pays up to $1,000 of your vehicle insurance deductible, when a GAP Claim is filed.
  • GAP Plus protection includes a skip-a-payment or delinquent-payment feature (see policy for details).
  • GAP Plus coverage: In additional to Guaranteed Asset Protection benefit, if there is a Total Loss or Unrecovered Theft Loss of the vehicle, and you finance a replacement vehicle from NuVision within 60 days after the Primary Insurance Settlement issues a settlement check, GAP Plus will cancel the first $1,000 due under your new finance agreement.




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