|Guaranteed Asset Protection (or GAP Insurance as it is often referred to) is insurance against a shortfall that may occur in the event that your vehicle is stolen or written off, and your Comprehensive Motor Vehicle Insurance total loss claim pay-out does not cover the loan balance outstanding on your finance agreement.
This shortfall can occur for a number of reasons, but is often due to the fact that a car's market value declines faster than the finance on the car is paid back for the first few years of its life. This could potentially leave you with a shortfall of thousands of dollars.
With GAP you can choose your level of shortfall cover to suit your needs. Plus automatically included in the policy is an additional benefit cover to reimburse you for out of pocket expenses.
For full benefits, exclusions and conditions, please view our Mainstream Guaranteed Asset Protection Policy Wording booklet.
Simply choose the cover that suits your needs and talk to your friendly motor vehicle dealer or call us on
0800 674 678.