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FINANCE

GAP+ / GAP Wrap

An extended [GAP](/glossary/gap-insurance) product that also reimburses your auto-insurance deductible after a total loss.

// Why it matters

GAP+ (also "GAP Wrap" or "Deductible Reimbursement GAP") is a premium tier of GAP insurance that pays both the loan-balance gap AND your auto insurance deductible (typically $500-$1,000) after a total loss. Standard GAP covers only the loan gap; the deductible is your out-of-pocket. GAP+ adds $50-$150 to the GAP premium and is sold heavily in the F&I office because the wrap is high margin. Worth it if you carry a $1,000+ deductible AND are buying GAP anyway. Skip the dealer version regardless — your auto insurer or credit union sells equivalent wrap coverage at 30-50 percent of dealer pricing. See GAP insurance: when it is worth the premium.

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