Gap Insurance Total Loss Claim Form

A gap insurance total loss claim form streamlines the process of claiming coverage when your vehicle has been declared a total loss and your insurance settlement doesn't cover your outstanding loan balance. This form template helps insurers, dealerships, and financial institutions collect all the necessary information to process gap insurance claims accurately.

What is Gap Insurance?

Gap insurance (Guaranteed Asset Protection) covers the difference between what you owe on your auto loan and what your vehicle is actually worth if it's totaled or stolen. When a vehicle is declared a total loss, standard insurance pays the actual cash value (ACV) of the vehicle—but if you owe more than that amount, gap insurance bridges that financial gap.

Why Use This Gap Insurance Claim Form?

This template is designed for insurance companies, auto finance companies, dealerships with gap programs, and third-party administrators who need to:

• Collect complete policyholder and vehicle information in one submission
• Document the total loss event with dates and claim numbers
• Capture accurate loan balance and settlement figures
• Automatically calculate the deficiency amount
• Gather supporting documentation efficiently
• Reduce back-and-forth communication with claimants

The form uses smart calculations to automatically determine the gap amount based on the loan payoff, actual cash value, and primary insurance settlement—reducing errors and speeding up claims processing.

Streamline Claims Processing with Paperform

Built with Paperform's calculation engine, this gap insurance claim form can handle complex math automatically. You can customize the conditional logic to show or hide fields based on claim type, integrate directly with your claims management system, and use Papersign (papersign.com) to collect any required signatures on settlement agreements.

For teams processing multiple claims, connect this form to your workflow with Stepper (stepper.io) to automatically route claims to adjusters, send status updates to claimants, and keep your internal systems synchronized—no manual data entry required.

Whether you're an insurance carrier, a credit union offering gap protection, or a dealership administrator managing gap claims for customers, this template provides a professional, efficient starting point that you can customize to match your specific requirements and branding.