MBP provides protection against mechanical breakdowns above and beyond the original manufacturer's warranty.
GAP covers the deficiency balance on your loan in the event of a total loss.
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Do You Need GAP?
This page is an index to our Guaranteed Asset Protection FAQs. First, look for the category that describes your question. Then, look for your question beneath that category.
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Frequently Asked Questions
Our FAQs are divided into the following categories:
Purchasing GAP
Vehicle Eligibility
Filing a Claim
What GAP Covers
GAP Ownership
General Information
Other Benefits
Purchasing GAP
What is Guaranteed Asset Protection (GAP)?
What are the benefits of GAP?
Can I buy this same type of coverage through my dealer?
How do I pay for the GAP coverage?
Will I receive something in the mail after I purchase GAP explaining the coverage?
Can I purchase GAP after loan origination?
I am refinancing my loan. Can I purchase GAP at that time?
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Vehicle Eligibility
What vehicles are eligible for GAP?
Can I buy GAP on a salvage/reconstructed titled vehicle?
I have an older car, is there an age limit?
I will be using my vehicle for my business, can I buy GAP?
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Filing a Claim
How do I file a claim?
Is there a deadline to file a GAP claim?
How do I receive payment for the GAP claim?
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What GAP Covers
Does GAP replace my comp and collision coverage?
How is my deductible covered by GAP?
If my primary insurance pays off my loan balance in full does GAP reimburse me for my deductible?
Does GAP cover towing and storage expenses?
What is the maximum amount GAP will pay?
Does GAP pay if I am uninsured?
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GAP Ownership
I have GAP and am going to refinance my loan - Does the GAP transfer to the new loan?
Can GAP be transferred to a different vehicle?
I am refinancing my loan from another financial institution - can the GAP transfer to my new loan?
I am going to have additional funds added to my loan - do I need to purchase a new GAP enrollment?
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General Information
Can I purchase my salvage back from my insurance company?
If I am past due on my loan, how does this affect the GAP settlement?
I have a service warranty policy on my vehicle - does this affect the GAP claim?
My car has been totaled, should I continue to make payments on my loan?
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Other Benefits
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