Are you financing or leasing your car, light truck or SUV? Did you know that if it's totaled or stolen you could face a financial risk that your auto insurance policy may not cover? Guaranteed Asset Protection (GAP) coverage protects you against this risk.

In the event of theft or total loss of your vehicle, most insurance companies only pay the Cash Value of the vehicle at the time of the loss. Your remaining loan balance could be much greater than the Cash Value of your vehicle creating a deficiency of several thousand dollars that you're liable for. What is the "GAP" on your vehicle? You may be surprised at the answer.

What's the GAP on my vehicle?

How GAP Works - A Typical Example

Vehicle's original purchase price:$25,000.00
Suppose after one year you experience a total loss on your vehicle...
Loan balance after one year:$20,000.00
Insurance settlement covering vehicle's current value:$16,000.00
Your lost investment without GAP...
Your remaining unpaid loan balance; the "GAP" (including your deductible, up to $1,000)** :$4,000.00
GAP pays the following toward the financing or leasing of a replacement vehicle...
GAP pays the difference:$4,000.00
Total GAP Benefit:$4,000.00

GAP Example Graph:


** Deductible reimbursement is available in most, but not all states. Please consult your financing representative for the availability of this benefit.

What's the GAP on my vehicle?

Guaranteed Asset Protection is not NCUA insured.