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Total Loss Protection "Gap Insurance"
We hope it never happens, but if your vehicle is deemed a total loss, there can be a significant difference between the amount your insurer covers and the balance you owe to your financial institution. This difference between your primary insurance settlement and the amount owing is known as the 'gap', and this typically represents thousands on a wrecked or stolen vehicle. WALKAWAY Total Loss Protection eliminates this shortfall.
Total Loss Protection Benefits
Covers up to $50,000 in financing shortfall.- Pays your deductible up to $1,000.- Provides a $500 credit on your next vehicle purchased from Wheels and Deals. Doesn’t my car insurance cover this? No. Your primary insurer's obligation is for the Actual Cash Value (ACV) of your vehicle only; what it was worth the day before total loss. You're responsible for the difference of the loan balance including aftermarket options, leftover debt from a vehicle you traded, or items or services included in your financing.