Insurance coverage that protects you when there is a total loss of your vehicle.
The difference between your primary insurance settlement and the amount still owing to your financial institution is known as the "GAP". This typically represents thousands of dollars on a total loss of your vehicle.
Total Loss Protection makes the "GAP" payment for you plus covers your deductible up to $1,000.
For example:
$24,000 (Outstanding loan or lease balance) - $17,000 (Auto insurance valuation)
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$ 7,000 (GAP) + up to $ 1,000 (Auto insurance deductible)
![imgi 2 gap example]()
Total Loss Protection
Avoid many of the unexpected out-of-pocket expenses related to a total loss.
- Pays your deductible of up to $1,000
- Protects your credit rating
- Could save you up to $50,000 by covering the "GAP" in your insurance settlement
- Gives you peace of mind at the time of a total loss
GAP Loyalty Program
- Receive a $500 Loyal Customer Credit when purchasing your replacement vehicle through your original dealer
- The $500 Loyal Customer Credit is deducted directly from the selling price of your replacement vehicle
Interested? Contact Brandy Bojnordi (Financial Service Manager) at 705.746.2991 or brandy@pschev.ca
