Guaranteed Asset Protection – Closing the GAP When you Need it Most
Do you Need GAP Insurance on your Policy and Vehicle Purchase?
Guaranteed Asset Protection (GAP) is a unique program that protects you from the potential financial burden that may result from your vehicle being declared a total loss if your insurance settlement does not cover the full amount of your loan or lease payoff. Without GAP coverage, you may be financially responsible for the difference between the insurance settlement and the amount you own on your loan or lease – potentially thousands of dollars.
GAP waives the difference* between the insurance settlement and the outstanding balance owed on your vehicle as of the date of total loss. GAP pays off your loan or lease without any additional expenses to you*
Don’t miss out! GAP insurance coverage is worth it! It is only available at the time you purchase your vehicle from Fellah Auto Group and you may be able to roll the cost into your monthly payment. Protected your car and your wallet. GAP is low-cost coverage that pays the potentially high-cost difference between the insurance settlement and your loan/lease payoff.
How GAP Insurance Works
| Loan / Lease Payoff | $15,000 |
| Insurance Settlement | -$12,000 |
| Difference | $3000 |
| GAP Protection Coverage Amount | -$3000 |
| Out of Pocket Expense | $0 |
Schedule your appointment with Bryan at Bristol (Call 215-745-5550) , or at our other convenient locations in the Philadelphia Area: https://www.fellahautogroup.com/finan…
*GAP Coverage is subject to the terms and conditions of the GAP Contract Addendum and may not waive the entire amount owed under your finance or lease contract as of the date of total loss.
Guaranteed Asset Protection is not a substitute for, nor does it take the place of insurance on your vehicle. You are responsible for maintaining collision and comprehensive insurance on and for the value of the vehicle and any other insurance required by the finance or lease contract or applicable law.
Fellah Auto Group is a provider of GAP and other insurance products, as administered by DOWC.
DOWC Administration Services, LCC
P.O. Box 194
Roseland, NJ 07068
For Customer Service and Claims
888-317-1550
