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Gap & Creditor Insurance

Denny Dealer Services has just the right product to offer your auto customers including gap and creditor insurance. Contact us today to learn more.

GAP Insurance Simply Explained

GAP products are intended to do just what the name implies – fill a gap. This product covers the difference between the loan amount, financing or lease value on the vehicle, and the actual cash value offered by the customer's primary insurer in the event of a Total Loss.

It is meant to cover the gap between the amount paid by the primary insurance company and the amount the customer still owes to their creditor for the vehicle.

Guaranteed Asset Protection

A Snap Shot

Imagine you purchase a $40,000 vehicle with an 84-month financing term and
unfortunately have a total loss 3 years later, coverage with GAP could look like this:

  • Total balance of vehicle loan still owing: $30,000
  • Amount paid by primary automobile insurer settlement based on the current value
    of your vehicle at the time of total loss: $22,000
  • GAP covers outstanding loan amount of $8,000

Deductible Reimbursement - In the event of a total loss of your vehicle, you may be
reimbursed up to a maximum of $500 for that portion of the deductible which you paid
under your primary automobile insurance policy.

Policy limit: $50,000

read more

Vehicle Armour logo

Vehicle Armour

Peace of mind coverage choices include Life, Critical Illness, Accidental Disability, and Involuntary Loss of Employment. Approved by all major lenders and manufacturers.

  • Pandemic is not an exclusion
  • Pre-existing protection after 1 year 

Northbridge logo


  • GAP insurance coverage
  • Canadian insurance company
  • Perfect for RV and powersports  
  • Up to 240 months coverage
  • Cancelable , covers the full amount of the loan


Simplify 4N1

  • Accidental Death Outstanding 
  • Accidental Disability Advantage
  • Involuntary Unemployment / Job Loss
  • Critical Illness Coverage
  • Job Loss is 6 months per occurrence with 180 days between claims up to 84 months of coverage.
  • Set pricing (affordable)
  • Pandemic is not an exclusion. 

Negative Equity Protection (NEP)*

Cover the trade-in loan debt: Negative Equity Protection (NEP)

When a purchase of a new vehicle is made, the negative equity, which is the debt of the previous car loan, is added to the new financing loan.

NEP helps cover the amount still owing from the previous auto loan if there is a total loss claim on the newly purchased vehicle for peace of mind knowing the outstanding debt is carried over to the recent vehicle purchase will be repaid.

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