GAP Coverage

If your vehicle is subject to a total loss1 claim, the insurance settlement may not cover the outstanding loan balance. The insurance settlement is based on the actual cash value of your vehicle, not your outstanding loan balance. If you owe more on your auto loan than your primary insurance settlement pays, the difference creates a "gap" that you are responsible to cover out of pocket.

GAP (Guaranteed Asset Protection) coverage is an optional debt cancellation product that covers the difference between the insurance settlement amount and your outstanding loan balance.2 Our GAP coverage3 is available on new loan originations4 for a flat fee of $675.00.

  • 90-day "free look" period5
  • Eligible for new and used cars, light trucks, vans and SUVs6
  • Maximum claim benefit of $50,000
  • Maximum market value of the vehicle is $100,0007
1 As determined by your auto insurance provider due to an at-fault or not-at-fault accident, theft or flood.
2  GAP may not protect the entire deficiency between the insurance payment or actual cash value and your outstanding loan balance. You are responsible for any remaining balance due on the loan after the request for benefits is processed. A copy of the GAP Agreement can be provided upon request for additional information.
3 GAP claims are processed through CUNA Mutual Group.
4 GAP coverage cannot be added to an existing auto loan. To add GAP, the loan must be refinanced, and coverage must be selected during the new origination.
5 During the first 90 days of the loan, coverage may be canceled for a full refund. The refund is applied to the outstanding loan balance and will not affect scheduled payments.
6 Gross vehicle weight must be 14,000 pounds or less. GAP coverage is not available for salvaged vehicles, flood vehicles, vehicles with a reconstructed title, classic vehicles (vehicles that are 20 years old or older) or vehicles used for ride-sharing.
7Based on MSRP or NADA average retail value.