In the event of a total loss due to unrecovered theft, collision, fire or any insured peril, your watercraft may be worth less than the amount you owe on your loan at the time of total loss.
If a covered loss occurs, Guaranteed Asset Protection (GAP) pays, in most cases, the difference between the scheduled loan balance you owe to the lender (net of refunds) and the actual cash value of the watercraft.
GAP Benefits
- Covers difference, in most cases, between remaining loan balance and you insurance settlement if your watercraft is a total loss
- Can be financed with purchase of your watercraft
- Available for most new and pre-owned watercraft
- Personalized customer service
Depending on the term of your loan, prices may vary. Talk to your dealer for more details.
GAP Insurance Highlight Sheet