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RpmPlus Sport GAP
GAP Plus helps waive what insurance doesn’t cover
If your customer's powersport vehicle is declared a total loss due to an accident, theft, or natural disaster1, their primary insurance company may only pay for the amount equal to their assessment of the market value of the vehicle at the time of the total loss, less the deductible amount. Unfortunately, there may be a significant “gap” between what the primary insurer pays and the balance they owe on their vehicle finance agreement. RpmPlus Sport Guaranteed Asset Protection (GAP) product may help protect your customer by waiving some or all of the difference.1
1 Please refer to your Addendum for details. GAP programs vary by dealer/lender/state of purchase. Maximum eligibility limits, coverage limits and exclusions apply. Note that your customer remains responsible for past due payments, late fees, other charges on the vehicle finance agreement, and any other amounts that are not covered by the GAP product.
2 Primary insurance deductible coverage is not available in all states. See state-specific provisions in your Addendum for complete details.
3 This is a limitation on the ratio of the vehicle finance agreement amount compared to the vehicle value. No coverage will be provided for the portion of the outstanding vehicle finance agreement balance resulting from the amount financed being greater than 120% of the MSRP/NADA value of the vehicle. In the event of a total loss, the outstanding vehicle finance agreement balance will be re-amortized as if the amount financed were 120% of the MSRP/NADA value (unless state law provides otherwise).
4 This is a limitation on the vehicle finance agreement term. No coverage will be provided for the portion of the outstanding vehicle finance agreement balance resulting from the vehicle finance agreement term being greater than 84 months. In the event of a total loss, the outstanding vehicle finance agreement balance will be re-amortized as if the vehicle finance agreement term were 84 months (unless state law provides otherwise).
5 Additional exclusions may apply. Please see your Addendum for specific coverage details, including limitations and exclusions.
6 Unless state law provides otherwise.
RpmPlus Sport GAP is a Revolos legacy product.