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GAP Plus (Guaranteed Asset Protection)

Don’t let a wrecked car wreck your finances.

When traditional insurance leaves you owing thousands on your vehicle loan, our GAP Plus Coverage steps in to help.

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Benefits of GAP Plus Coverage

  • Covers the gap left behind by car insurance.
  • Reduces your next car loan by $1,000.
  • Gives you the peace of mind you deserve.

How Gap Plus Coverage Works

When your vehicle is totaled or stolen, traditional auto insurance reimburses you for your vehicle’s actual cash value, which is also known as the fair market value.

But most loans end up having a gap between the loan amount and the insurance settlement, leaving you to pay thousands of dollars to get out of the loan.

GAP Plus coverage protects you from sudden out-of-pocket expenses by reducing or eliminating that gap. Plus, it also helps you get into a replacement vehicle easier by lowering your next credit union loan by $1,000.

And GAP Plus coverage isn't just for new cars, we also offer coverage for used vehicles, refinanced vehicles, motorcycles, boats and RVs so you can have peace of mind for almost any type of vehicle loan. 


Why Most Auto Loans Need GAP Plus Coverage

You can be the best money manager and still end up with a gap. It happens to everyone because autos depreciate quickly.

New vehicles generally depreciate about 20% the first year you own them. Within the first five years, they’ll lose 60% or more of their initial value.

If you’re not paying down your loan at the same rate as your vehicle is depreciating, you will have a gap.

That’s why it’s so essential to have this extra coverage.

Learn More About Depreciation

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Questions About GAP Plus Coverage?

If you have questions, we’ve got answers. Check out our GAP Plus FAQ page.

GAP Plus FAQs

Ready to Close the GAP?

Ensure you’re covered from unexpected loss by getting your free, no-obligation GAP Plus Coverage quote today. It’s peace of mind you deserve.

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Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP), is optional and will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid. GAP purchased from state chartered credit unions in FL, GA, IA, RI, UT, VT, and WI, may be with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you choose a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee. GAP purchased from state chartered credit unions in CO, MO, or SC may be canceled at any time during the loan and receive a refund of the unearned fee. GAP purchased from state chartered credit unions in IN may be with or without a refund provision. If the credit union offers a refund provision, you may cancel at any time during the loan and receive a refund of the unearned fee. GAP-2454900.1-0319-0421© CUNA Mutual Group, 2019. All Rights Reserved.