A standard insurance policy is not sufficient always! Sadly, vehicle owners come to this understanding the hard way when their cars, scooters, ATVs, or motorcycle is damaged beyond repair. While a conventional automobile may still have a part of its money recovered, you will find it very challenging to do the same for a Powersports vehicle.
Check with the local dealer and you will be surprised to know about the Powersports gap 150 total loss protection plan that sounds too good to be true.
The purpose of buying this particular insurance coverage is apparent from the name itself. Indeed, you will have your loss covered should the company decide that it cannot be repaired ever. Apart from collisions and falling from a great height, a Powersports vehicle that is stolen and never to be recovered shares the same fate too.
It is most important to be aware of the benefits that the plan can bring you. Go ahead and invest in the plan when you understand how it works.
Why Do You Need The Powersports Gap 150 Total Loss Protection?
The acronym gap stands for “Guaranteed Asset Protection” which will compel the insurance provider to pay the difference between the pending loan amount and the actual amount of the vehicle. This is applicable only after your vehicle has been declared as a loss and unrecoverable. You are sure to be relieved by this solution especially when you have not yet repaid the loan. Accidents seldom occur with a warning, so it makes sense to consider buying such a plan along with traditional insurance coverage.
Well, you as the vehicle owner will not be able to consider that the vehicle is destroyed. On the contrary, it is the insurance company that will consider it a loss in the following circumstances:-
- The repair costs for the damaged vehicle are well above the insured value
- The vehicle that was stolen is untraceable and there is no hope of recovering it in future
- The totaled vehicles are usually finalized within six months of ownership
For the uninsured, the expenses are likely to shoot up with the vehicle owner being asked to pay the difference as mentioned before. However, when you invest in Gap 150 plan, it is the insurance company that shoulders the onus. This takes a great load off your mind once you know that the insurance company will have your back and save you from financial ruin should you incur such a loss.
The Gap insurance is offered in varied firms by different insurance companies. However, it is the Gap 150 that is one of the best plans for people owning Powersports vehicles regardless of motorcycles, ATVs, or other types of RVs. It is vital to remember another aspect though. You will only be paid the difference in value which will not be enough to replace the damaged vehicle with a brand-new Powersports vehicle.
A point that is sure to have you elated is that you can obtain the amount for Powersports Gap 150 total loss protection plan almost immediately after filing the claim.