What is Hyundai GAP Insurance?

Insurance Agent Examining Car After Accident
 

Hyundai GAP insurance, or GAP coverage, is a type of add-on Hyundai insurance coverage that you can get when you purchase a new Hyundai in Las Vegas from Hyundai of Las Vegas. Most often, when you purchase this type of coverage, as is the case when you do so at our dealership near Henderson, it’s offered by the finance department, or finance and insurance (F&I) department. But what is Hyundai GAP insurance? The “GAP” part stands for “Guaranteed Asset Protection”. It can, for some drivers, be the difference between getting by after an accident, and near financial ruin. Let’s go over the details:

Hyundai Insurance: Guaranteed Asset Protection (GAP)

Hyundai Guaranteed Asset Protection, or GAP coverage, offers additional coverage if and when your vehicle is ever deemed a total loss. From car accidents to theft, and even natural disasters, Hyundai GAP coverage works in the following ways:

  • GAP will waive the difference between your outstanding loan balance and insurance payout up to $150,000 or 150% of your car’s MSRP.
  • GAP will also waive your deductible up to $1,000.
  • Up to $50,000 of losses may be waived.

Hyundai Insurance: Coverage Exclusions

Hyundai GAP coverage excludes these events and uses:

  • GAP does not cover vehicular damage from illegal behavior, such as DUIs or fraudulent activity.
  • Coverage does not include vehicles used for competitive driving or racing.
  • GAP coverage will not exceed the program maximums.
  • For more information about exceptions to Hyundai GAP coverage or other vehicle protection plans, feel free to contact our financing team at 725-236-4400!

Learn More About GAP Insurance from Hyundai of Las Vegas! 

You now know more about what Hyundai GAP insurance is and how it works, in addition to why you might want it. Ready to see which of our new vehicles you might want to apply it towards and then get the process started? Head to Hyundai of Las Vegas today! We proudly serve customers from North Las Vegas to Paradise.

 

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