What is Total Replacement Coverage and how does it differ from traditional GAP?

Traditional Guaranteed Asset Protection (GAP) Insurance provides the first layer of protection on the shortfall between the remaining loan balance on your vehicle, and the insurance settlement you might receive from auto insurance policy. This essentially puts you in a break-even situation…but you still need to get a new vehicle.


Enter TRC (Total Replacement Coverage Powered by GAP RS). In addition to what traditional GAP pays, TRC is a replacement subsidy, so that you can not only settle the original financing, but you now receive a credit toward the purchase of the same or similar vehicle that you originally purchased including coverage for increased MSRP due to inflation.

Coverage Highlights

  • Cover vehicles up to $150,000
  • Terms up to 84 months
  • Primary deductible coverage up to $500
  • Available for new & used vehicles up to 7 years old
  • Helps maintain your credit rating
  • Protects against inflation
  • Insured by Canadian Premier General Insurance Company