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Porsche Protection Plan Products
Porsche Guaranteed Auto Protection (GAP) Plan
available from the Porsche Charleston Finance Center

Open Today! Sales: 9am-7pm Call us at: (843) 996-1452

Coverage in case of a total loss

What is GAP?

In the event your Porsche is declared a total loss due to an accident, theft, or natural disaster, your insurance company might reimburse you only for your vehicle’s assessed value. As a result, there could be a significant gap between what your insurer pays and the balance you owe on your Retail Contract plus your insurance deductible.

Porsche GAP Protection safeguards you by waiving the difference between your primary insurance settlement and the outstanding balance on your vehicle’s financing.

Considering the risks associated with theft, collision, and natural disasters, Porsche GAP can help put Retail Contract deficiencies and insurance deductibles behind you in the event of a total loss.1

Porsche Guaranteed Auto Protection (GAP) is available on new, pre-owned, and Porsche Approved Certified Pre-Owned vehicles on Porsche Financial Services Retail Installment Sale Contracts at the time of vehicle purchase only.

How GAP protects your investment:

 

Here is an example of how Porsche GAP might cover a vehicle declared a total loss:

Outstanding Retail Contract balance   $75,000
Insurance assessment of vehicle’s
Actual Cash Value4
$66,500
Amount You Owe = $8,500
Primary insurance deductible2 + $1,500
Your potential expense   $10,000
Waived by GAP $10,000
Amount you owe   $0

 

Porsche Guaranteed Auto Protection (GAP)

This example is for illustrative purposes only. Actual calculation and dollar amounts may vary, including outstanding Retail Contract balance, insurance assessment of vehicle’s Actual Cash Value, and the deductible amount. Please refer to your GAP Waiver Addendum for a complete list of benefits, exclusions, and limitations.

Coverage information:

  • Waives covered losses up to $50,000
  • Includes coverage for your insurance deductible up to $1,5002
  • Covers Retail Contract balance/amount financed up to 150% of the vehicle’s MSRP/NADA value
  • Available on Retail Contract terms up to 84 months
  • Transferable for a $50 fee if you sell your vehicle to a private party3

Waives the amount equal to the unpaid net balance of your loan less the Actual Cash Value of your vehicle as determined by the primary insurance company. In certain instances the Actual Cash Value will be based on a regionally used and industry-accepted source.

Includes coverage for up to $1,500 of your primary insurance deductible.

Waives covered losses up to $50,000.

1Please refer to your GAP Waiver Addendum for details. Programs vary by state. Maximum eligibility limits and certain exclusions apply. Note that you remain responsible for any past-due payments, late fees, and other charges on your Retail Contract.
2Deductible coverage is not available in Alaska and New York.
3Agreement is transferable within 30 days of covered vehicle resale if private party assumes your Retail Contract and no other terms of the Retail Contract are modified.
4Vehicle’s current value as determined by your insurance company. In certain instances the Actual Cash Value will be based on a regionally used and industry-accepted source.

Coverage exclusions may apply:

  • Any amount or term exceeding the program maximums
  • The following deductions taken by the primary insurer: prior damage, salvage, missing items, excess towing, custom equipment, and storage
  • Vehicles used for competitive driving, racing, or a prohibited commercial purpose
  • Total losses resulting from the customer’s dishonest, fraudulent, or illegal acts (such as DUI), or those committed by the customer’s family member or other person acting under the customer’s authority
  • Leased vehicles or balloon loans

Additional exclusions may apply. Please see your GAP Waiver Addendum for specific coverage details, including limitations and a complete list of exclusions.

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Meet the Porsche Charleston Finance and Insurance Team

  • James Marino

    James Marino

    Porsche Certified Sales Manager

    Email Me
    James Marino

    James Marino

    Porsche Certified Sales Manager

  • Barrett Brown

    Barrett Brown

    Business Manager

    854.429.1438
    Email Me
    Barrett Brown

    Barrett Brown

    Business Manager

Our certified Porsche Financial Services Advisors are always available for further questions or to begin the process of leasing or ownership.

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1515 Savannah Highway • Charleston, SC 29407

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Today's Hours:

Open Today! Sales: 9am-7pm

Open Today! Service: 7:30am-6pm

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Porsche Charleston 32.784934, -80.005188.