Guaranteed Asset Protection (GAP) protection may seem like a commodity; however, not all GAP programs are the same. GAP waivers are written as Dealer Obligor, meaning, if your provider for whatever reason is not there at claim time, it becomes the Dealer’s financial responsibility.
GAP losses can be volatile and are subject to a multitude of ever changing factors. With GAP having a relatively low cost and potentially high claims severity, GAP coverage has resulted in periods of significant losses for the GAP industry. Having an experienced and financially secure provider is critical.
Running a dealership in today’s ever-changing business environment is challenging enough; with MBPI as your GAP provider, you will have one less thing to worry about. MBPI has over 37 years of experience in the F&I product industry, giving them the financial strength and experience to navigate the complexity and volatility of a comprehensive GAP program.
MBPI only uses A.M. Best “A” rated Insurers, giving you the peace of mind and security that they will be there at claim time.
– $50,000 claim limit with up to $1,000 toward the physical damage deductible.
– Traditional three tier pricing or a unique five tiered pricing for a more competitive price on shorter terms.
– Up to 150% of Manufacturer’s suggested retail price (MSRP) with a maximum amount financed of $125,000 or less.
– Terms up to 84 months.
– Fully earned option – In the event of constructive total loss and a GAP benefit is waived, the addendum will be deemed as fully earned and no refund will be due.
– Commercial option – Allows GAP to be written on a vehicle used for transportation of persons or property for hire, compensation, profit, or in the furtherance of a commercial enterprise.
To ensure peace of mind, all of our products are backed by A.M Best “A” rated Underwriters. With MBPI, you won’t have a provider that can’t provide for you in the future.
Ready to find out what MBPI can do for you? Contact us at 250 NE Mulberry, Lee’s Summit, MO 64086, (800) 325-7484, firstname.lastname@example.org
This page provides a general overview of the product. Please refer to the actual contract provisions for additional information including details of benefits, eligibility, specific exclusions, terms, conditions, and limitations. Coverages may differ in certain states and coverage may not be available in all states.
MBPI is exactly the type of company you would expect when family values, leadership, and entrepreneurial spirit come together in an atmosphere where Agents’ and Dealers’ values are honored and their voices are not just heard, but listened to.