Loss & Theft
Experiencing the total loss of your vehicle is always unpleasant. But GAP protection can help soften the blow by minimizing your losses and vehicle replacement cost.
Guaranteed Asset Protection
Theft Protection
Key Replacement Protection
Guaranteed Asset Protection
GAP waives what insurance doesn’t cover.
What is GAP?
If your vehicle is ever declared a total loss due to an accident, theft or natural disaster, your auto insurance company might only reimburse you an amount equal to their assessed market value of your vehicle. Unfortunately, there may be a significant gap between what your insurer pays and the balance you owe on your vehicle loan.
GAP helps waive the difference.
Depending on the amount you borrow, the outstanding balance on your loan can be greater than the amount your auto insurance company will pay in the event of a total loss. Power Protect Guaranteed Asset Protection (GAP) safeguards you by waiving the difference and offering the following1:
• GAP is available on loan amounts up to 150% of your vehicle’s MSRP, up to $150,0001
• Includes coverage for your insurance deductible up to $1,0002
• Waives covered losses up to $50,000
GAP PLUS offers the additional benefit of:
• $1,000 credit toward the purchase of a replacement vehicle (not available in all states; participating dealers only)
How GAP protects your investment.
Here’s an example of how a Power Protect GAP product would cover a $25,000 vehicle declared a total loss due to an accident:
| Outstanding loan balance | $22,000 |
| Insureance assesment of vehicle's Actual Cash Value, less $1000 deductible | ($16,000) |
| Your potential expense |
$6,000 |
| Waived by GAP | ($6000) |
| Amount You Owe | $0 |
This example is for illustrative purposes only. Actual GAP waiver benefit calculations will vary based on specific circumstances.
We offer our customers exceptional benefits that enhance the driving experience. For more information, see your participating Power Protect dealer or contact the Power Protect Customer Service team at 1-800-689-0047.
Coverage exclusions may apply3:
• Any amounts or terms exceeding the program maximums
• The following deductions taken by the primary insurer: prior damage, salvage, missing items, excess towing, custom equipment and storage
• Total losses resulting from the Customer’s dishonest, fraudulent or illegal acts (such as DUI/DWI), or those committed by the Customer’s family member or other person acting under the Customer’s authority
• Vehicles used for competitive driving, racing or a prohibited commercial purpose
Theft Protection
Protect what's yours.
The true cost of auto theft goes beyond vehicle loss.
If your new vehicle is ever stolen, and your insurance company follows common industry practices, they will likely only cover your vehicle’s market value at the time of the loss. The limited coverage offered by your insurance company leaves you fully responsible for other expenses such as your insurance deductible, the interest on your loan, sales tax for your replacement vehicle and various other fees.
Fortunately, Power Protect Theft Protection offers you a theft deterrent system that helps minimize your losses. You can take advantage of the Power Protect Theft Protection replacement benefit of up to $5,000, which can be applied toward the purchase of a replacement vehicle.
Our proven system ensures peace of mind.
• Distinctive anti-theft warning window decals used to deter theft
• Vehicle marked with identification codes
• Up to $5,0001 Limited Warranty Benefit if the Theft Protection product fails to prevent the theft of the vehicle and either the vehicle is not recovered, or it is recovered but is damaged beyond reasonable repair (availability may vary by state).
• Transferable coverage may add to your car’s resale value if you sell your vehicle to a private party
• Choose the plan that’s right for you, with coverage options up to five years
Protecting your investment.
The following illustrates how the Theft Protection Limited Warranty Benefit can cover outstanding out-of-pocket costs related to the theft of your vehicle:
| Insurance deductible | $1000 |
| Payoff deficiency | $2000 |
| Replace vehicle costs (down payment, sales tax, other fees) | $2000 |
| Potential Expense | $5000* |
| Theft Protection Benefit | ($5000) |
| Amount You Owe | $0 |
* Approximate costs; your actual costs may vary.
We offer our customers exceptional benefits that enhance the driving experience. For more information, see your participating Power Protect dealer or contact the Power Protect Customer Service team at 1-800-689-0047.
Coverage exclusions may apply2:
• Vehicles stolen outside the United States, its territories or Canada
• Vehicles stolen when unlocked or with the keys inside
• Vehicles stolen by family members or people with access to the vehicle’s keys
Key Replacement Protection
Your solution for key-related emergencies.
When you can’t find your keys, we’re here to help.
Today’s car keys are far more advanced than they were a generation ago. And that means replacing your vehicle’s key and remote can cost hundreds of dollars. Fortunately, Power Protect Key Replacement Protection is here to help.
Whether your keys are lost, stolen, locked inside your car or simply not working, we have you covered with key replacement assistance anywhere in the U.S. and Canada. You can choose the plan that’s right for you, with protection options of up to five years.
Reliable service when you need it most.
• Coverage includes reimbursement for replacement of the vehicle’s key/transponder and any applicable programming up to $800 per occurrence
• Reimbursement for non-programmable keys on member’s key ring up to $250 per occurrence
• No deductible—zero out-of-pocket cost for you at time of claim
• 24-hour vehicle lock-out assistance—locksmith expenses covered up to $100
• Up to $75 towards taxi, rental vehicle and/or public transportation if member is unable to replace keys and/or drive the vehicle on the same day
• Transferable to another vehicle
We offer our customers exceptional benefits that enhance the driving experience. For more information, see your participating Power Protect dealer or contact the Power Protect Customer Service team at 1-800-689-0047.
Coverage exclusions may apply1:
• If you did not receive two master keys at the time of purchase of the covered vehicle
• If your keys are covered by the manufacturer’s recall, or repairer’s or supplier’s guarantee or warranty
• Any replacement keys made without prior authorization
