Ease Your Mind with VehicleOne Primary GAP
Are you protected in the event of a total vehicle loss? If your vehicle is totaled due to damage or theft, the amount your primary insurance company pays may not cover everything you owe on it. Typically, the amount you receive from your insurance company is the actual cash value or the market value of your vehicle less the deductible. Sometimes, this amount is substantially less than your outstanding finance contract balance. VehicleOne Primary GAP is designed to protect you in these situations.
VehicleOne Primary GAP covers the borrower’s responsibility for the “gap” amount between the outstanding finance contract net balance and the actual cash value of a totaled or stolen vehicle. It will cover most or all of a remaining net principal balance, including a deductible up to $1,000 (where available).