PLANET MOTORS PROTECTION
Companion GAP Coverage
Know what you owe. Know what you're covered for.
Don't let a gap between your insurance payout and your loan balance leave you thousands out of pocket.
Ask About GAP CoverageBridge the Gap Between
Insurance and Your Loan
When your car is stolen or declared a total loss, your insurance typically pays only the actual cash value of the vehicle, which often doesn't cover the full amount you owe on your loan or lease. This gap can leave you responsible for thousands out of pocket.
EXAMPLE: If You Owed
$15,000
Insurance Payout
$12,000
What insurer pays
GAP Covers
$3,000
Zero out of pocket
How GAP Coverage Works
Total Loss Occurs
Your vehicle is stolen or declared a total loss after an accident.
Insurer Pays Market Value
Your auto insurer pays the vehicle's current depreciated market value.
GAP Covers the Difference
If your loan balance is higher, GAP coverage pays the remaining amount.
Plan Benefits
Financial security: Protects your finances from large unexpected bills.
Built into your financing: Coverage attaches directly to your loan or lease.
Peace of mind: Drive knowing you won't owe more than your car is worth.
Coverage term: Active for the full length of your loan or lease.
Coverage Details
Who Should Consider GAP?
Drivers with loans or leases where the balance exceeds the vehicle's market value.
New car buyers who experience rapid depreciation in the first years.
Anyone wanting to avoid surprise debts after theft or total loss.
Protect Your Loan From the Start
Ask your Planet Motors specialist about adding Companion GAP Coverage to your financing today.