Protective Asset Protection presented a new program dealers can provide to RV consumers.
The F&I program and service provider now offers a guaranteed asset protection (GAP) service contract. The program supports consumers in the event of a total vehicle loss due to unrecovered theft, collision, fire or other insured peril.
GAP coverage will typically cover the difference between the vehicle’s cash value and the remaining financing balance owed.
Protective Asset Protection Vice President of Specialty Sales and Training Bill Koster said, “This product is particularly important in these industries where the value of the asset can depreciate faster than the loan balance.”
GAP coverage can limit out-of-pocket expenses if an RV is totaled or stolen.
“By bridging this gap,” Koster said, “we are helping dealers provide an added layer of financial security for their customers.”
The program applies to RV and marine markets.
To learn more, click here.
