GAP Insurance PLUS®

Protect your automotive investment with GAP. What is GAP?

1. It is insurance policy that will pay the difference (GAP) between what your insurance company will pay you for your vehicle should it be totaled in an accident and what you owe on your loan.
2. Our GAP policy offers you a $1,000 toward your down payment toward your replacement vehicle if you finance it through the Credit Union.
3. Our GAP policy offers to cover your deductible up to $500 if a claim is filed.
4. It is fully refundable if you cancel the coverage within 90 days.

There could be a big difference between what your insurance will pay and what you owe on your loan. Most cars depreciate by thousands of dollars as soon as they are purchased.

Unfortunately, if your vehicle is stolen, accidentally damaged beyond repair, or otherwise a total loss, you are still liable to pay the difference, or the "GAP" between your insurer's settlement and your loan balance. That GAP will come out of your pocket for a vehicle that, for all practical purposes, no longer exists. While many dealers offer GAP insurance on the vehicles they sell, you'll find that you'll pay a much lower price at the Credit Union.

Ask for GAP Insurance when applying for a Vehicle Loan!