Guaranteed Asset Protection (GAP) is a non-insurance product that covers the gap between your vehicle’s value and the amount you still owe if it’s stolen or involved in a major accident. Because most insurance policies only cover the value of your vehicle—something that declines during the first few years of ownership—your loan or lease balance could be higher than the value of your vehicle. A GAP policy can protect you by covering the difference between the value of your vehicle and your loan balance so that you do not suffer additional losses.
GAP is designed to cover you whether you finance or lease a new or used vehicle. Automobiles, vans, light trucks, motorcycles, boats, travel trailers, motor homes, golf carts, jet skis, snowmobiles, and almost any type of vehicle are eligible. No matter what you are driving, we want to protect your investment.
For more information on GAP, please contact a member service representative at 888.528.2595.
