Guaranteed Asset Protection

GAP: Peace of mind for your borrowers; income for your institution

Guaranteed Asset Protection, commonly referred to as GAP, is an income-generating product that financial institutions can add to their vehicle purchasing options.

If your borrower’s vehicle is lost or stolen, GAP will pay the difference between the value of the vehicle, which is determined by the primary insurance company, and the unpaid balance of the loan. GAP provides your borrowers with peace-of-mind, knowing their investment is fully protected.

If available in your state, Guaranteed Asset Protection Advantage, commonly called GAP Advantage, provides the same benefits as GAP, with an additional $1,000 benefit to use toward the financing of a replacement vehicle with your institution.

In many cases, SWBC can provide coverage for:

  • Private passenger vehicles and light trucks
  • Travel trailers
  • Watercraft
  • Motor homes
  • Miscellaneous collateral—motorcycles, golf carts, ATVs