Скачать или смотреть Fidelity Warranty Services - GAP Vehicle Protection / Total Loss Explained

t’s called the "gap." It’s the difference between the Amount Owed on your Retail Installment Sales Contract/Lease Agreement and the Actual Cash Value of your vehicle at the time of a Total Loss.

The Amount Owed does not include missed payments, payment extensions, deferred payments, accrued interest, late fees, disposition fees, penalty fees, early termination fees or finance charges incurred after the date of loss. Also, if the insurance company valuation used to calculate the Actual Cash Value is less than 90% of the NADA value of your vehicle, the NADA value will be used in determining the "gap" amount (which means a smaller amount may be paid).

If your car is determined to be a Total Loss, this "gap" could translate into thousands of dollars that you would still owe after the settlement from the auto insurance company. The Plan excludes total loss claims denied by your automobile insurance company. This is an optional insurance product and is not required for you to obtain financing for the purchase or lease of a vehicle.