GAP is designed to relieve you of the responsibility for the remainder of the loan balance that your primary insurance carrier may not cover in the event of a write off or total loss. Essentially, GAP protects you from substantial loss.


The chart below illustrates the relationship between the actual cash value (ACV) and the "amount you still owe on your loan" for the typical vehicle. The actual cash value is typically the maximum amount of money your insurance company will pay for your vehicle if it is declared a "Total Loss". As you can see, there is a "gap."

For example, if your car was in a serious accident, or was stolen, two years after you bought the car, the money the insurance company may give you will not cover the full amount that you still owe on your car loan. They only pay the actual cash value, not the amount you currently owe. Even worse since the car no longer exists for the bank to use as collateral, the bank will often ask you to immediately pay this cash shortfall out of your own pocket! This can often be thousands of dollars. Ouch!

The fact is that most physical damage insurance policies whether for passenger cars and light trucks only cover the actual cash value of your vehicle, not the amount that you actually still owe with your loan. Purchasing GAP Insurance solves this serious problem! GAP Insurance provides protection that you need when your physical damage insurance coverage leaves you stranded.

The On Track GAP program focuses on providing good value for the purchaser of both new and used vehicles. When you finance a vehicle through a lending institution, On Track GAP program coverage is available as an optional coverage at dealerships belonging to our extensive dealer network.

We provide protection that consumers need when their auto insurance, or recreational vehicle physical damage insurance, leaves them stranded.

ON TRACK INSURANCE SERVICES LTD., is a Canadian-owned company that focuses on providing, through licensed intermediaries, innovative and worthwhile products in the Canadian market, including GAP coverage.

Headquartered in Georgetown, Ontario, On Track Insurance Services Ltd. provides GAP Insurance coverage within most provinces and territories in Canada. We maintain an extensive network of dealers, service representatives and business partners all across Canada.