Peace of Mind
Gap Insurance
G.A.P is a unique program that may help protect you from financial disaster in case your boat is stolen or totaled. Here's why: as your boat gets older, the actual cash value (ACV) decreases, while your lease or loan balance may remain higher than what the insurance company will pay you. You are then liable for the difference between what the insurance company pays you and what you owe.
What is Gap Insurance?
Many people don't realize that they are responsible for that balance owed on the boat. G.A.P. may help cover the difference between your loan or lease balance and your insurance settlement.
How Gap Insurance Works
In other words, if your insurance does not cover the cost of the totaled or stolen boat YOU HAVE TO PAY THE DIFFERENCE.
You will enjoy the secure feeling of knowing that you are protected by the GAP plan.
Pricing
There are many variables that determine the price of GAP Insurance. These include the type and age of the vehicle you purchasing and the term of your loan.
We will contact you with pricing for your specific loan. If you have any questions please feel free to contact us.
