AZ HB2674

Amends Section 20-103 of Arizona Revised Statutes to add guaranteed asset protection (GAP) waivers as an exception to the definition of insurance.

Defines a guaranteed asset protection waiver as a contractual agreement included in or attached to a borrower's finance agreement where a creditor agrees to cancel or waive all or part of the amount owed if the motor vehicle is totally damaged or stolen, for a separate charge.

Specifies that GAP waivers are not insurance and Arizona's insurance title (Title 20) does not apply to those waivers.