What is Hyundai GAP Insurance?

2019 Hyundai Elantra GT 

After you've picked out your new Hyundai model, the last thing you want to think about is a catastrophe! But if you want the peace of mind that comes from total protection, then Hyundai GAP insurance is a great way to stay covered through even the most extreme circumstances. What is Hyundai GAP Insurance? Hyundai's Guaranteed Asset Protection provides extra insurance against any major incidents that you encounter on the road. If you still owe money on your loan and your insurance plan can't pay out what you need, GAP can provide the assistance that you need to get you over the hump. Let's go over the details:

Browse New Inventory Our Finance Center

Guaranteed Asset Protection (GAP)

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

  • 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 deductible up to $1,000.
  • Up to $50,000 of losses may be waived.
couple with Hyundai Sonata

Coverage Exclusions

Guaranteed Asset Protection can extend a major lifeline to you in the case of a major catastrophe, but there are a few exceptions to keep in mind:

  • GAP does not cover vehicular damage from illegal behavior, such as DUIs or fraudulent activity.
  • Coverage does not include vehicles used for competitive driving or racing.
  • GAP coverage will not exceed the program maximums.
  • For more information about exceptions, feel free to contact our financing team.

Contact Us to Learn More!

Now that you know what is GAP insurance, you might still have questions - and the folks at Elgin Hyundai are ready to answer each one! Just contact us online for more information or drop by the dealership to chat with our team.