Hotline: 1-800-436-0868
Email: support@voltswitchprotect.com
Guaranteed Asset Protection (GAP)
Total Financial Security for Your Ride
New vehicles lose 20% of their value within the first 12 months. In the event of a total loss, your primary insurance may only pay the “Actual Cash Value,” often leaving a significant “gap” between that payout and what you still owe. Voltswitch Protect’s GAP coverage is designed to eliminate this financial burden, ensuring you aren’t left paying for a machine you can no longer ride.
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Who This Protection Is For
GAP Protection is ideal for:
- New Owners: Riders with low down payments on new motorcycles, ATVs, or UTVs.
- Long-Term Financing: Customers with loan terms exceeding 60 months.
- Lease Holders: Anyone looking to fully satisfy their lease agreement after a total loss.
Key Benefits of Powersports GAP
Financial Peace of Mind, No Matter the Outcome
The Alert service provides a 360-degree safety net for you and your family.
- Loan Balance Waiver: Waives some or all of the financial gap after a total loss, providing coverage beyond standard insurance payouts.
- Deductible Coverage: Minimizes financial strain by covering your primary insurance deductible (where allowed).
- Zero Deductible: Offers major financial protection when you need it most with no out-of-pocket deductible for the GAP claim itself.
- Loan Flexibility: Essential for modern financing, where the average new-car loan now exceeds 68.6 months, and some lenders offer terms of 96 months or longer.
- Credit Protection: Ensures your loan is settled quickly, protecting your credit rating for your next purchase.
Why It Matters
Research shows that new cars lose 20% of their value within the first 12 months of ownership. With the average new-car loan length averaging 68.6 months, and used-car loans averaging 67.4 months, many riders find themselves “underwater” on their equity. Voltswitch Protect ensures that a total loss doesn’t become a lifelong debt.
The evaluation report shows how your insurance company determined the value of your vehicle. This is needed to properly calculate the GAP benefit amount. The settlement breakdown confirms the exact amount the insurance company paid.
Yes. We recommend maintaining your monthly payments until your claim has been completed to keep your credit in good standing. Your Lender will refund any overage directly to you once our payment has been applied.
Depending on the terms and conditions of your GAP agreement, specific exclusions apply. If a police report was not filed, please provide a letter from your insurance company confirming the details of the loss.
Although your contract refers to a deductible reimbursement, it is inclusive of the portion we pay to the Lender. If your insurance company deducted $500 from the settlement, GAP picks this up as part of the entire settlement.
Frequently Asked Questions
Navigating Your GAP Claim
Discover how we help you and your family stay protected in a complex world.
