GAP PLUS - Guaranteed Auto Protection
Extra Protection for Your Vehicle Loan
What is GAP Plus?
When your vehicle is damaged or stolen and declared a total loss, your insurance company will only pay what they determine your vehicle is worth. This amount might not always cover the balance you still owe on your vehicle loan, leaving you with the financial responsibility to pay the remaining balance. This is where GAP Plus comes in.
GAP Plus (Guaranteed Auto Protection) may help cover the difference between your vehicle’s actual value (determined by your insurance company) and the remaining balance of your loan. This helps to ensure that you’re not left paying out-of-pocket for a vehicle you no longer have or can use.
eligibility and convenience
Most types of vehicle are eligible for GAP Plus coverage. Additionally, the cost of GAP Plus can typically be included in your loan payment*, making it an affordable and convenient way to protect your investments.
Some eligible vehicles include:
Automobiles (cars, trucks, SUVs, etc.)
Snowmobiles
ATVs
Motorcycles
Boats
Auto Advantage Program
As part of GAP Plus coverage, the Auto Advantage Program provides an extra layer of financial protection through Auto Deductible Reimbursement (ADR). ADR will pay up to $500 per loss (unlimited losses for up to three years) to the insurance company for a covered vehicle that the member owns or leases when a claim is filed and paid by the insurance company and the member’s deductible is met.
Protect your investment and drive with confidence!
*All terms and conditions are subject to underwriting criteria, and may not be available to all borrowers.
**Subject to certain exclusions and benefit limitations.