Guaranteed Asset Protection Advantage (GAP Advantage) Coverage

GAP Advantage protection goes into effect when you need it most – when your vehicle is stolen and isn’t recovered or totaled in an accident and can’t be repaired. GAP Advantage waives the difference between your primary insurance carrier’s settlement and the payoff of your loan, less delinquent payments, late charges, refundable service warranty contracts, and other insurance related charges.

GAP Advantage also includes Auto Deductible Reimbursement. If you suffer a loss during the coverage period that is covered by your auto policy, you may be entitled to reimbursement of your auto deductible up to $500 per loss. You are eligible for reimbursement when a claim is filed and paid by your carrier during the first 3 years of your loan term for the financed vehicle. In addition, all other vehicles you own and insure are covered as well.

Any auto financed through Webster First is eligible to be covered by GAP Advantage. Commercial vehicles and trucks over 1 ton capacity are not eligible for GAP Advantage. In addition, some recreational vehicles, such as travel trailers and boats, are also not eligible.

GAP Advantage costs $349.00 and is provided through Allied Solutions. The cost can be paid as one lump sum, or it can be rolled into the total loan amount of your auto loan. You have up to 18 months into your loan to purchase GAP Advantage coverage.