In the event of a total loss, the value of the vehicle will probably be less than the amount you owe. Therefore, you are left with the responsibility of paying the difference between your insurance company settlement and your original loan or lease amount.



Guaranteed Asset Protection

If you’ve never heard of GAP – Guaranteed Asset Protection – you may be wondering what it is and why it’s important to consider when you purchase a wheelchair van? Put simply, GAP comes to the rescue in the event, your wheelchair accessible vehicle is ever declared a total loss and you owe more on your loan than you’ll receive from your insurance company. 

What is Guaranteed Asset Protection?

Guaranteed Asset Protection (GAP) is not GAP Insurance; it's GAP coverage, which works similarly and ensures your vehicle is protected. For example, in the event of an unrecovered theft, collision, or fire, your wheelchair van may be worth less than the amount you owe on your loan at the time of total loss. In most cases, you would be required to pay the difference between the vehicle’s value and the existing loan amount. With GAP, that difference is covered, keeping you clear of any further financial responsibility. BraunAbility can assist you in obtaining this coverage.

How Does GAP Work?

In the event of a total loss, your insurance company may say the market value of your vehicle is $30,000. If you owe $35,000 on the bank loan, that leaves a ‘gap’ of $5,000 for the individual to cover. If that person was protected with GAP coverage, that extra protection would cover the $5,000.

Why is Guaranteed Asset Protection Important?

On average new vehicles depreciate by 11% as soon as you drive off the dealership lot. Over a six-year time period, the value of your vehicle will decrease by nearly 60%. The difference between the value of your vehicle and the amount you owe on a loan could be significant. For a small fee you can have peace of mind knowing you’ve made the right decision, potentially saving yourself tens of thousands of dollars.

Speak to a Product Specialist​

One-on-One Support


Have questions about GapGARD? Whether you're a wheelchair user or a caregiver, we are here to help you understand your options, find your nearest mobility dealer, and even guide you through available financing and funding service. 

Call a BraunAbility Finance specialist at (844) 498-9800 or fill out the form to learn more.

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Frequently Asked Questions about GapGARD

What is GapGARD, and how does it protect my financial investment?


GapGARD is a specialized protection product offered by BraunAbility Finance that covers the "gap" between the actual cash value of your wheelchair accessible vehicle and the remaining balance on your finance contract in the event of a total loss. This means that if your vehicle is declared a total loss due to theft, accident, or other covered event, GapGARD helps cover the difference between what you owe on your loan and what your insurance company pays out. 

Who is eligible for GapGARD coverage?


Any customer financing the purchase of a wheelchair accessible vehicle through BraunAbility Finance is eligible to purchase GapGARD coverage. It provides an extra layer of protection for your financial investment and peace of mind. 

What events are covered by GapGARD?


GapGARD covers the total loss of your wheelchair accessible vehicle due to theft, accident, fire, flood, tornado, and other similar unforeseen events. It is essential to review the specific terms and conditions of your GapGARD contract to understand the complete list of covered events. 

How does GapGARD work with my auto insurance policy?


GapGARD is designed to complement your primary auto insurance policy. In the event of a total loss, your insurance company will typically pay the actual cash value of the vehicle at the time of loss. Then, the GapGARD coverage steps in to cover the remaining balance you owe on your finance contract, subject to certain limitations and exclusions. 

Can I purchase GapGARD after I've already financed my wheelchair accessible vehicle?


No, unfortunately GapGard must be purchased and included on the contract at the time of financing. 

How do I add GapGARD to my financing contract?


To add GapGARD to your financing contract, simply speak with your BraunAbility Finance representative or your authorized BraunAbility dealer. They will guide you through the process and provide you with all the necessary details to make an informed decision. 

Is GapGARD transferable if I sell my wheelchair accessible vehicle?


No, unfortunately GapGARD is not transferable. 

Can I cancel my GapGARD coverage, and will I receive a refund?


Yes, you can cancel your GapGARD coverage at any time. Depending on the timing of the cancellation and the terms of your contract, you may be eligible for a refund of the unused portion of the premium. It is advisable to contact BraunAbility Finance or your BraunAbility dealer for cancellation instructions and refund details. Additionally, your contract should include details on the cancellation process. 

Where can I find more information about GapGARD and its terms and conditions?


For detailed information about GapGARD coverage, including terms, conditions, limitations, and exclusions, please refer to the GapGARD contract provided by BraunAbility Finance or local BraunAbility dealer. 

Who should I contact if I have questions or need to make a GapGARD claim?


P. O. Box 653, Bedford, TX 76095-0653
Toll Free: 888-565-2580
Fax: 817-552-4199 

In the event of a constructive total loss under this addendum notice must be reported to us within 90 days of receiving settlement from the primary carrier or, if no primary carrier coverage is in effect on the date of loss, within 90 days of loss. Failure to provide notice within these stated time periods may result in the denial of your rights to waiver under this addendum. Upon request of the Commissioner, the GAP Administrator will make its records relating to the creation, processing, and resolution of this addendum available to the Commissioner. 

Vehicle Protection Quick Links

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