Guaranteed Asset Protection (GAP) Plus Insurance pays the difference or "gap" between a member's outstanding loan balance and the auto insurer's settlement when a vehicle is damaged beyond repair or stolen.
The Credit Union's GAP Plus Insurance has some great features that distinguish our policy from those available at auto dealers:
- Covers a "gap" up to $50,000 between the auto insurer's settlement and the outstanding loan balance.
- Covers insurance deductibles up to $1,000.
- Provides a $1,000 down payment credit toward your next vehicle loan.
- Available for New and Used Vehicles.
- Coverage can be purchased after the loan is opened.
- Full refund if cancelled within the first 90 days. No cancellation fee.
- Insurance premiums can be included with the monthly vehicle loan payment.
- Click here for FAQs about GAP Plus.