What is Hyundai GAP Insurance?

2019 Hyundai Elantra GT

Let’s go over the details. If you need assistance, GAP insurance can provide you with the help you need. If you still owe money on your loan and can’t pay it off, GAP insurance can cover major incidents you encounter on the road. Hyundai’s Guaranteed Asset Protection Insurance offers additional coverage against any major incidents you may encounter on the road. If you want total protection and peace of mind, GAP insurance from Hyundai is a great way to stay covered even in extreme circumstances. However, if you’ve just picked out a new Hyundai model, the last thing you want to think about is a catastrophic event.

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Guaranteed Asset Protection (GAP)

How does this plan work? It means that you are still protected against unexpected emergencies like natural disasters or theft, even accidents. In the case of a total loss, GAP provides extra coverage, although every plan has its limitations. Hyundai models include a generous warranty package that covers everything from your paint to your powertrain.

  • 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 excess up to $1,000.
  • Up to $50,000 of damages may be forgiven.
  • couple with Hyundai Sonata

    Coverage Exclusions

    To ensure that exceptions are kept to a minimum, there may be a few instances where Guaranteed Asset Protection can provide a significant lifeline, especially in the event of a major catastrophe.

  • GAP insurance does not offer protection for harm to vehicles caused by unlawful behaviors, such as operating a vehicle while intoxicated or participating in deceitful actions.
  • Coverage excludes vehicles utilized for competitive driving or racing events.
  • GAP insurance will not surpass the program limits.
  • If you need additional details regarding exemptions, please don’t hesitate to reach out to our finance team.
  • Contact Us to Learn More!

    Just contact us online for more information or to drop by the dealership and chat with our team! The folks at Hyundai Elgin are ready to answer any questions you might still have – now, do you know what GAP insurance is?