Motorcycles are far riskier to ride than a car or other types of four-wheel vehicles because other than running on two wheels only, the rider is completely exposed to the elements, which means they won’t have any protection other than their head gear during a crash or collision. Powersports GAP is a program developed specifically to protect vehicle owners, particularly owners of two-wheel vehicles like a motorcycle, from financial burdens should their vehicle be declared a total loss and their loan hasn’t been fully paid, yet.
How does Powersports GAP work?
Briefly, Torque Group’s GAP 150 covers the difference between the motorcycle’s loan balance and its Actual Cash Value (ACV) at the time it was declared a total loss. For the purpose of clarity, “total loss” is defined as the vehicle being completely unusable because it was stolen and declared by the authorities as irrecoverable, or the motorcycle figured in an accident and the repair cost is beyond its insured value. But whether it was stolen or completely damaged from an accident, you’ll have some level of protection from financial losses as you won’t have to worry anymore about paying for a motorcycle you are no longer in possession of.
Challenges in motorcycle ownership
As mentioned above, riding a motorcycle is considered riskier compared to riding a conventional four-wheel vehicle, but it can’t be argued that a motorcycle gives you an adrenalin rush you won’t experience in a four-wheel car. It’s this adrenalin rush and a different sense of freedom that motorcycles offer riders that make them a favorite ride for adventurers and thrill-seekers.
Knowing these risks motivates owners to purchase a Powersports GAP program or similar coverage to protect them against financial losses in the event of total loss.
Another challenge that motorcycle owners face is avoiding road hazards. These two-wheeled machines are more exposed to damage caused by road hazards compared to conventional four-wheeled vehicles. Potholes, debris, and uneven roads are particularly more difficult to avoid as these are often not immediately seen or noticed.
Torque Group Powersports GAP
Do you own a dealership? Protect your customers against financial losses; provide them with coverage for total loss with Torque Group’s GAP 150 program. To learn more about GAP 150 and how it will benefit your customers, please feel free to get in touch with Torque Group. You may reach them at (800) 859-0590. Eager to get started? Sign Up today.
