GAP waivers governed under this chapter are not insurance and are exempt from the insurance laws of the Commonwealth. Persons marketing, soliciting, negotiating, selling, or offering to sell GAP waivers that comply with this chapter are exempt from the Commonwealth's licensing requirements.
GAP waivers not insurance
Va. Code Ann. § 38.2-6406, under Chapter 64. Guaranteed Asset Protection Waivers..
Va. Code Ann. § 38.2-6406