Myth: You have insurance and you have gap protection that will cover all your costs if your car is a total loss from theft or collision.

Even with insurance and gap protection, you could still have substantial expenses. That's because your gap protection covers the difference between what your primary coverage pays and the lease/loan payoff. Gap protection does not cover inception expenses for a new lease/loan. That leaves you without a car or with significant out - of - pocket expenses to initiate a new lease/loan.
Gap Wrap offers you added protection in the event of a total loss.
What Gap Wrap is: As its name implies, Gap Wrap, wraps around the gap coverage included in your lease/loan to offer you more protection from financial loss.

Why You Need It: Gap Wrap fills the gap left by your existing gap coverage. While gap protection helps pay off the lease/loan on your stolen or totaled vehicle, Gap Wrap helps you get a new one by defraying down payment and inception costs.

What You Can Expect: If you suffer a total loss, Gap Wrap will give you $2500 in the form of a credit voucher to be used toward the purchase of another vehicle.

Programs vary by dealer/lender/state. Please refer to your Gap Wrap waiver for details of the terms and consitions of coverages.