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CareGARD

GapGARD

Bridge the Gap with GapGard. GapGard waives the difference between your Primary Insurance Settlement and the outstanding balance of your vehicle on the date of loss.

In the event your vehicle is deemed a constructive total loss due to an accident or theft, your auto insurance policy usually covers the fair market or actual cash value of the vehicle.

The amount you owe your Lender may be more than your insurance settlement. This difference or gap could cost you thousands of dollars.

Guaranteed Asset Protection (GAP) waives the difference between your Primary Insurance Settlement and the outstanding balance of your vehicle on the date of loss.

Protects new and used vehicles

  • Protects vehicles valued up to $100,000
  • Franchise and Independent dealers
  • 120% – 150% coverage available
  • May cover your insurance deductible up to $1,000
  • Waives losses up to $50,000
  • *Typical GAP situation:
Original Loan/Lease Amount$19,950
Loss Date20 Months
Insurance Settlement$10,000
$11,000 less $1,000 Deductible
Loan/Lease Pay-Off$14,000
GAP Deficiency$3,000
Insurance Deductible$1,000
Potential Out-of-Pocket Expense$4,000
GapGARD Pays to Lendor/Lessor$4,000
Out-of-Pocket Expense with GAP$0

* For illustration purposes only

Fast response and excellent service are just two reasons why motorists rely on CareGARD’s Products for vehicle protection.

For more information or for a CareGARD representative near you please call 800-856-0990 and ask for the sales department.

See contract for coverage details.

CareGARD Claims Department is open 24/7.

Contact us at 888-565-2580 or via email at autoclaims@afgusa.net.