GAP insurance (Guaranteed Auto Protection)


Personal Lines

As an independent insurance agency, personal lines is an important part of the products

and services we provide to our clients. We have the privilege of servicing over 12,000 personal lines policyholders. Our agency’s goal is to develop long-term relationships with all of these clients, providing the safety & security that is required to protect their personal possessions and the income flows of their families. The insurance carriers we represent are among the best and share our desire & commitment in servicing your financial needs. These carriers all have A (excellent) ratings by A.M. Best, a sign of financial strength and the ability to pay claims. Our clients can be assured that the carriers we represent are fiscally responsible and highly responsive to the needs of our clients in any claim situation.  Go to the page

Life & Health Insurance

At Body-Borneman, we know that our clients have more than automobiles and homes

to protect. That’s why we organized our life and benefits department back in 1962. For over 35 years, we’ve been helping customers to protect their health, incomes and savings from the risk of financial loss, including: We pride ourselves in the abundance of products and services we have available to meet your insurance needs. We are staffed with professional agents at all 3 of our locations, who can assist you with any insurance need you have .  Go to the page

Commercial Lines

Body-Borneman specializes in Commercial insurance, with over 2,000 clients

Regardless of whether your business is manufacturing, wholesaling, contracting, retailing or service, we can find and tailor a program to match your needs, whether through traditional insurance products – or more creative, self-insurance captive programs As an independent agency, Body-Borneman represents a large assortment of today’s most competitive carriers for many industries. Having ready access to these markets makes us uniquely qualified to tailor to your specifications a package of protection.  Go to the page
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Welcome to Body Borneman Insurance

GAP Insurance

Guaranteed Auto Protection Insurance, which is otherwise known as GAP Insurance, is one of the most complicated and technical insurance policies on the market.  At the same time, GAP insurance is a life saver for most vehicle owners, especially those with brand new cars. This form of insurance covers the difference between the Actual Cash Value of a vehicle that has been damaged or stolen and the amount owed on a leased or loaned vehicle. So in other words, a GAP loan will pay off the remainder of what you owe for your vehicle loan after an accident or theft.


Rather unfortunately, cars depreciate and begin to lose value as soon as they leave the lot from which they were purchased. This is particularly troublesome if the vehicle has been completely destroyed in an accident or if it has been stolen and cannot be recovered. This is where GAP insurance steps in to save the day.


For an example of how GAP insurance works, consider this scenario: You leased a new car for $30,000 and after two months, you were hit by a drunk driver and your car is completely totaled. After an assessment by your insurer, it is determined that your car is only worth $24,000 due to depreciation. Although they will pay the amount that they determined the car is worth, you are left not only without a car, but also a hefty sum of $6000 to pay off to the dealership that you leased your car from.


Well, this would only be the case if you did not have a GAP insurance policy. If you did decide to invest in GAP insurance, then the remaining $6000 would be paid off and you would be left with a balance of Zero. This then gives you the freedom and peace of mind to go out and purchase a new car. Without this loan, you the driver, will be responsible for payment of your lease even with no car to drive.  This is particularly crippling if you have to make these repayments while recovering from minor to severe injuries caused by the accident. At the very least, it will make it much more challenging to purchase a new car.


GAP loans have grown in popularity over the past few years due to heavy endorsements from both commercial and or personal auto policies, both of which are easily accessible online. It is for this reason that you will find that this policy covers a large number of vehicles, and is particularly popular with drivers of leased vehicles. 

How do I Find the Right GAP Policy for Me?

As with every other policy, one must always follow the golden rule…ask questions! Although GAP is mostly considered to be an add-on to a standard auto insurance policy, it is still wise to know everything there is to know about it before adding it to your list of expenses.


Some of the questions you should ask include: Can I afford this considering all that I already have to pay for? What are other GAP customers saying about this particular policy? Shop around and ask other customers for their reviews, look out for who is offering the lowest deal (this information is readily available online). Should I just go ahead and add it in with my current auto insurance policy? This could work out to be cheaper for you even though GAP is already relatively cheap. One should feel free and comfortable enough to ask your dealer what GAP insurance will be in place from the minute your vehicle is in your hands in order to determine whether you think it is worth the purchase.


With that said, there are three types of GAP:


  • Finance GAP insurance – This is where you took out a loan to purchase your new vehicle and after said accident or theft, your insurer is only offering to pay a fraction of the costs. With this type of GAP, the remainder of your debt is paid off directly to the party that you acquired the loan from.
  • Return-to-invoice insurance – This policy is where you get what you paid. It works in the way that in worst case scenarios, your GAP policy holder will work directly with your insurer to determine how much you initially paid for the vehicle and you are reimbursed with the exact amount that you paid whether it is an older or a new car.
  • New car/Vehicle replacement GAP insurance – Quite similarly to “Return-to-Invoice” insurance, this type of GAP caters to drivers who want to have the absolute most secure peace of mind. In the worst case scenario, this insurance policy will not only pay you back in full for your former car, it also pays you extra compensation to allow you to purchase another car that is perhaps an upgraded version of your old car or simply a better brand.

When do I Purchase GAP?

With some insurers, you really don’t have a choice. To ensure that they get paid even in the worst cases, including thefts and accidents, many insurers will insist on you taking the add-on with your main policy and they are well within their rights to do so. With that said, just because this insistence only applies to some insurers, that does not mean that you should opt out of a GAP if you stumble across an insurer who doesn’t insist the coverage be applied to your policy.


In reality and logically speaking, it should be one of the first things you purchase when buying a car with a small down payment, or especially when leasing a new car. You might see it as a bigger dent in your pockets right now, but it is far lesser than the costs you would owe if you didn’t take it and you end up losing your vehicle completely to either thieves or in an accident.

Read the Fine Print

Before rushing off to sign on the dotted line, you should always read or ask about the parts that some insurers might not tell you. They say all that glitters is not gold and in the case of GAP, although it is a very important policy to purchase, there are some home truths that might dull its shine.


Here are some extras that you need to know with GAP Insurance:


  • Any additions to your vehicle including new tires, speakers etc. will be your loss as the value of your car will not be raised in the eyes of the GAP insurer.
  • You will only receive pay outs if your vehicle is fully comprehensive.
  • To receive GAP payment, your car must be recorded as totally written-off or unrecoverable and your claim must be deemed as successful and fully settled.


Talk to a Body-Borneman agent today about how you may benefit from GAP insurance. Even if you are not looking to purchase a new car at this time, speaking with an agent about GAP insurance options can help you to better budget what would be best for your future. We only want to make sure that in the event that your vehicle becomes completely unusable, you are not struggling to find transportation. Call to experience our superior service and expertise today.