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GAP Protection – LaterBank Insured Services
 
 
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GAP Protection

Gap Protection

When a customer totals their car, the insurance company may place a value on the vehicle that is less than the amount that the customer owes on the loan or lease. In addition to the deductible, the customer is now responsible for the remainder of the loan or lease.

GAP protection insurance takes care of the remainder of the loan or lease brought on by a low insurance settlement. Offer your customers peace of mind through a full settlement policy that covers up to 150% of the retail cost of their vehicle including the deductible.

LaterBank’s GAP Vehicle Insurance policies are approved by all lenders.

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