Your auto insurance policy is only obligated to pay the average market value of your vehicle, not the loan amount in the event of a total loss.
​If your vehicle is deemed a total loss, MPP GAP helps take care of the difference between what your insurance company pays and the loan amount.
Total Losses Covered
- Accident
- Stolen Vehicle
- Natural Disaster
How GAP Works
| Loan/Lease Payoff | $29,000 |
| Primary Auto Insurance Settlement Amount | -$23,000 |
| Difference Owed | $6,000 |
| Total GAP Amount Waived | -$6,000 |
| *Your Out-of-Pocket Expense | $0 |
*The above example is for illustration purposes only. In some circumstances (such as past due payments, deferred payments, interest charges, delayed insurance settlement, or other plan limitations) the Guaranteed Automobile Protection may not take care of the entire GAP. Programs vary by state. For complete terms and conditions, see the Debt Waiver Addendum/GAP Certificate applicable to your state.
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