The Airstream GAP Waiver includes travel trailer coverage of up to $25,000 and touring coach coverage of up to $50,000 with a $1,000 maximum payment for your primary insurance deductible. Once you file a claim and pay your deductible, your GAP deficiency balance (up to your covered maximum) is paid to your lender on your behalf, pursuant to the terms of the Airstream GAP Waiver.
Airstream GAP Waiver
Guaranteed asset protection and what it means for you.
Guaranteed Asset Protection (GAP) waivers are the epitome of planning for the unexpected. In the unlikely event that your Airstream travel trailer or touring coach is stolen, totaled in an accident, or damaged in transit before you take delivery, the difference between the actual cash value of your Airstream and the amount left in your loan is called the “gap.” Without an Airstream GAP Waiver, this becomes an out-of-pocket cost, and that’s the last thing you need. The Airstream GAP Waiver – underwritten by Nationwide® and administered by Phoenix American Companies – is your stop-loss peace of mind. Take a look at how it works, then contact your dealer for more.
How it works
Why is a GAP waiver needed?
Any RV can depreciate in value over time and use. So if you’ve financed your RV, the amount left on your loan may exceed the market value of the RV at a given point in time. If that’s true at the time of a total-loss accident or theft, there will likely be a “gap” in what your insurance covers and what you still owe on your loan. The Airstream GAP Waiver prevents you from having to pay that gap out of pocket.