UT| Utah Insurance Department Bulletin 2025-10 clarifies that any retail vehicle seller in Utah who sells a Guaranteed Asset Protection (GAP) waiver must be properly licensed by the Utah Insurance Department with a limited line GAP waiver line of authority, whether the seller is a licensed dealership (legal entity) or an individual. If a dealership sells the vehicle, the entity must hold a limited line agency license, and each individual discussing or selling the GAP waiver on its behalf must also hold a limited line individual producer license; if an individual (not a legal entity) sells the vehicle, that individual must hold the limited line individual license. Licenses must be renewed every two years, and the Department may take enforcement action against any legal entity or individual that sells, offers, or provides a GAP waiver in a retail vehicle transaction without the appropriate license, as required under Utah Code § 31A-6b-201.
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