GAP & Mechanical Breakdown Protection

What is GAP? Mechanical Breakdown Protection

Guaranteed Auto Protection. If your vehicle is totaled or stolen, your primary insurance company settlement can be significantly less than the outstanding loan or lease balance. This may create a deficiency balance or a "gap" resulting in a serious financial hardship for you.

GAP is designed to relieve you of the responsibility for the remainder of the loan balance.
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Your vehicle is a major investment. Next to your home, it's probably the biggest investment you will ever make. You'll want to protect it so you can drive it for many years to come.

Florida Telco has partnered with Old Republic and offers three levels of protection for new and four levels of protection for pre-owned* vehicles that gives you the ability to protect your vehicle so you can enjoy worry-free motoring and avoid unexpected, costly repairs.

(*Not all pre-owned vehicles qualify - please ask.)

 

What does GAP Cover?
What does MB Protection Cover?
GAP Covers the difference between your outstanding loan balance and the actual cash value of your vehicle (as assessed by your primary insurance company) less any deductions. GAP also covers up to $1,000 of your deductible if there is a "gap" after the primary insurance settlement is paid. It is covered as part of the deficiency balance. • Towing & Rental
• Tire Protection
• Travel and Lodging
• Roadside Assistance

Reimbursement of up to $35 for:

• Lock-Out Services
• Fuel Delivery
• Flat Tire Repairs
• Battery Jump

Benefits Your Service Contract provides...

• Low cost protection
• Eliminates out-of-pocket expense for the remaining loan balance after insurance settlement
• Helps you avoid financial hardship and afford a replacement vehicle
• Helps protect your credit rating

• Protection against mechanical breakdown
• Bumper to Bumper coverage for eligible new and pre-owned vehicles (Gold Plan)
• One deductible per visit
• Increased Resale Value
• Fully Insured Coverage

 

For details on the different plans available and for a quote
please contact your loan officer or call the Loan Dept at 904.723.6300.