GAP (Guaranteed Vehicle Protection)
GAP or value depreciation insurance is vital insurance that covers the depreciation of the value of a vehicle after the purchase, following the total loss of a vehicle as a result of a collision, theft or fire during a period of three to five years.Veritas WAGAS GAP Coverage
We offer several variants: GAP Invoice Refund, Used Car GAP, Financing GAP and Bonus GAP.
We also offer custom plans and terms for customers who produce high volumes. If you’re interested, contact us today and learn about the solutions we have available.
If your client loses the car as a result of a collision, theft, fire or flood, regardless of who was at fault, the vehicle’s insurer may pay only market value and may refuse to reimburse the client for the many additional expenses incurred. you will incur if your vehicle becomes a total loss and the policy has been canceled by the auto insurer.
GAP insurance is a form of insurance against the depreciation of the value of the vehicle since its purchase, which becomes apparent after a total loss due to collision, theft or loss of fire or flood, and can, under our Bonus GAP luxury variant, cover your client for the additional costs they will incur to travel in the time that the insurer takes to resolve the claim, including the rental of a car and/or a driver for the sum of an additional payment of 2,000 US dollars, in addition to cover the cost of depreciation.
Regreso al Valor de la Factura GAP
Program dedicated to newly acquired vehicles, new or used, up to five years old in which the purchase of a vehicle occurs. Policies can be purchased on the date of vehicle purchase or within 90 days thereafter.
Coverage
Total compensation 100% of the depreciation that has occurred in the value of the vehicle since its purchase for three years from the date of purchase. The payment will cover the difference between the market value offered by the insurer in compensation for a total loss of the car and its original invoice value. Subject to a maximum claim value of 22,000,000 CLP
Term
36, 48, 60 Months
Maximum Vehicle Age
Less than 5 years at the beginning of the insurance policy coverage
Bonus GAP
This is our premium product and covers both depreciation and expenses normally incurred as a result of a total loss of the insured vehicle.
Both new and used vehicles can be insured for full depreciation up to the maximum depreciation amount of CLP 22,000,000, in addition, in the bonus GAP option, an additional US$ 2,000 will be paid to cover additional expenses such as rent of cars, the driver or taxis, while the collision, theft or fire claim is processed, which can take up to six weeks.
Coverage
Return to GAP Invoice Value/GAP Used Car + additional bonus to cover additional costs for the customer of 1,500,000 CLP
Term
36, 48, 60 Months
Maximum Vehicle Age
Less than 5 years at the beginning of the coverage of the GAP insurance policy.