Powersports Gap Protection: Essential Ownership Coverage

Have you ever been in a situation where you had to pay for something that isn't usable anymore or no longer in your possession, asks Powersports Gap Protection provider, Torque Group. Perhaps your child broke a toy in a store, and you had to pay for it. Or you lost an expensive jewelry you're still paying for. It feels heavy on the pocket, doesn't it? But you have an obligation to pay and that's what you're going to do. This is why you need Powersports Guaranteed Asset Protection or GAP.

What is Powersports GAP?

Powersports Gap Protection is an after-sales product designed to provide vehicle owners with an extra layer of protection against financial losses in the event that their Powersports vehicle, whether an ATV, UTV, snowmobile, motorcycle or watercraft, gets stolen and deemed irrecoverable or damaged from an accident and declared beyond repair. The vehicle is also declared a total loss if it figures in an accident, gets damaged and the repair cost is higher than its insured value.

How does it work?

Say your ATV gets stolen and after weeks of searching, the authorities declare that it's irrecoverable, meaning, there's little to zero hope of ever finding it. What happens then? You continue to pay for the loan that you took from the dealership even if the ATV is no longer in your possession because you signed a contract and it must be honored at all costs.

While this doesn't feel right or seem fair, the payments must be made on time. You still owe the dealership. But when you have a GAP coverage, you won't have to worry about making payments for a vehicle that you've already lost. GAP will pay the difference between what you still owe the dealership and the vehicle's retail value at the time of loss or the insurance settlement, whichever is greater.

Depending on the GAP provider, it could also include coverage for up to $1,000 of your insurance deductible, as in the case of Torque Group's GAP 150. But whichever coverage you choose, one thing is clear: GAP coverage gives you peace of mind knowing you have financial protection in case your vehicle is declared a total loss.

Call Torque Group today for the most comprehensive GAP coverage available today

Give your customers peace of mind; offer them the best Powersports Gap Protection available today. Call Torque Group at (800) 859-0590 to learn more about how GAP 150 can benefit your dealership customers.