GAP Insurance
Protect Your Investment. Protect Your Peace of Mind.
When you finance a vehicle, there’s something most people don’t think about:
If your vehicle is written off or stolen, your insurance company only pays the current market value — not what you still owe on your loan.
If you owe more than what it’s worth, you’re responsible for the difference.
That’s where GAP Insurance comes in.
What Is GAP Insurance?
GAP stands for Guaranteed Asset Protection.
It covers the “gap” between:
- What your auto insurance company pays out and
- What you still owe on your vehicle loan
Without GAP coverage, that difference comes out of your pocket.
Why This Matters in Ontario
Vehicles depreciate the moment they’re driven.
If:
- You put little money down
- You financed over a longer term
- You rolled negative equity into your loan
- Or the market shifts unexpectedly
You could owe thousands more than the vehicle is worth — especially in the first few years.
GAP Insurance protects you from carrying that financial burden after a total loss.
Example Scenario
You purchase a vehicle for $28,000.
A year later, it’s unfortunately written off.
- Insurance payout: $22,000
- Remaining loan balance: $26,000
- Your responsibility without GAP: $4,000
With GAP coverage, that difference would be covered.
What GAP Insurance Covers
Depending on the plan selected, coverage may include:
- The remaining loan balance after insurance payout
- Deductible coverage (in some plans)
- Protection for financed taxes or fees
- Coverage for theft or total loss
We’ll always explain exactly what your specific coverage includes before you make a decision.
Is GAP Insurance Required?
No — it’s optional.
But for many financed vehicles, especially with smaller down payments, it can be a smart financial safeguard.
At Deejay’s Auto, we don’t push products.
We explain them clearly so you can decide what makes sense for you.
Who Should Consider GAP Coverage?
GAP Insurance may be worth considering if:
- You financed for 60–84 months
- You put less than 20% down
- You rolled previous loan balance into your new financing
- You want predictable financial protection
Why Add It at Deejay’s?
✔ Competitive pricing
✔ Simple, transparent explanation
✔ Rolled into your financing if approved
✔ No hidden fine print
Just like the rest of our process — it’s straightforward.
Have Questions?
If you're unsure whether GAP Insurance makes sense for you, we’ll walk you through it clearly — no pressure.
📞 Call us
📍 Visit us in Brantford
💬 Or ask during your financing appointment
We’re here to make sure you drive away confident — not just approved.