What it does
The 09 18 edition expressly addresses deferred payments in the unpaid amount due at the time of a covered total loss and adds a provision on primacy when other sources of recovery apply; ISO characterized the revision as a reduction in coverage.
Who needs it
Insureds with new financed or leased vehicles.
Quoting and selling notes
- Check whether the finance contract already includes GAP coverage.
How PAP endorsements attach
PAP endorsements modify PP 00 01 and are listed on the declarations (PP DS 01). In the 2018 revision ISO also made editorial changes across the multistate endorsements, including a statement that schedule information not shown on the endorsement will be shown in the declarations, so check the declarations page for limits, vehicles and named persons.
Editions and availability
Current edition 09 18, replacing 09 93. State adoption varies; many states use state-specific versions of the PAP endorsements.
