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.