In the event your Porsche is declared a total loss due to an accident, theft, or natural disaster, your insurance company might reimburse you only for your vehicle’s assessed value. As a result, there could be a significant gap between what your insurer pays and the balance you owe on your Retail Contract plus your insurance deductible.
Porsche Guaranteed Auto Protection (GAP) Plus safeguards you by waiving the difference between your primary insurance settlement and the outstanding balance on your vehicle’s financing.
Available on new, pre-owned, and Porsche Approved Certified Pre-Owned vehicles on Porsche Financial Services Retail Installment Sale Contracts at the time of vehicle purchase only.
Considering the risks associated with theft, collision, and natural disasters, Porsche GAP Plus can help put Retail Contract deficiencies and insurance deductibles behind you in the event of a total loss.18
Here is an example of how Porsche GAP Plus might cover a vehicle declared a total loss:
|Outstanding Retail Contract balance|
|Insurance assessment of vehicle’s Actual Cash Value.19|
|Amount You Owe|
Primary Insurance deductible.20
Your potential expense
Waived by GAP.
Amount You Owe.
GAP Plus Benefit.
This example is for illustrative purposes only. Actual calculation and dollar amounts may vary, including outstanding Retail Contract balance, insurance assessment of vehicle’s Actual Cash Value, and the deductible amount. Please refer to your GAP Waiver Addendum for a complete list of benefits, exclusions, and limitations.
18 Please refer to your GAP Plus Waiver Addendum for details. Programs vary by state. Maximum eligibility limits and certain exclusions apply. Note that you remain responsible for any past-due payments, late fees, and other charges on your Retail Contract.
19 Vehicle’s current value as determined by your insurance company. In certain instances, the Actual Cash Value will be based on a regionally used and industry-accepted source.
20 Deductible coverage is not available in all states.
21 Porsche Guaranteed Auto Protection is transferable within 30 days of the assumption of the vehicle retail contract. Please see your Addendum for complete transfer and cancellation rules, including state-specific transfer and cancellation rules.
22 The GAP Plus Benefit is valid only at your authorized selling dealer in the form of a $1,000 credit toward the purchase/lease of a replacement vehicle after a Waiver Benefit has been approved. Please see your Addendum for details.
23 Additional exclusions may apply. Please see your GAP Plus Waiver Addendum for specific coverage details, including limitations and a complete list of exclusions.