Marine GAP Program

Marine GAP Program

Jane AdlerPress & Events

Marine GAP ProgramMcGraw Powersports is offering a revamped Marine GAP Program. GAP, or Guaranteed Asset Protection, provides an extra layer of coverage when financing a new or used watercraft. Other highlights:

  • The product is designed specifically for longer-term and higher finance amounts associated with marine purchases.
  • Covers up to 135% of MSRP / NADA values for financed vehicles
  • Coverage is available for up to 120 months with a $250,000 financed limit and a maximum loan term of 246 months.
  • Covers the primary insurer’s deductible up to $1,000

This program is now available in all states except Colorado, Maryland, New Hampshire, and New York. We cover new and used personal watercraft and full-sized marine units up to 14 years old.  

As of April 1st, the Marine GAP Program is now available to any McGraw dealership with a current GAP agreement. Dealerships are encouraged to contact their territory representative to have the product enabled, but no new agreement is needed unless you do not have a current GAP agreement with us.

More on GAP: 

GAP provides that extra little bit of breathing room for your clients when purchasing a new or used powersport vehicle or watercraft. This waiver covers the difference between the loan balance and the value of your clients’ purchase should a theft or total loss occur during the term of a loan. McGraw Powersports offers GAP for motorcycles, off-road vehicles, and personal watercraft vessels, just ask to learn more.

*See contract for specific details.