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Make your coverage count

Vehicle insurance that fills in the GAP

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  • Overview

    Why Purchase GAP?

    If something happens to your vehicle, normal insurance will cover it, right? Well, mostly right. Unfortunately, almost all car insurance only covers the value of your car itself, and not what you owe on your auto loan. If there’s a difference between the two, you could be out thousands of dollars.

    Our Guaranteed Asset Protection (GAP) PLUS insurance can help you and your family with unexpected expenses. If your vehicle is stolen or totaled, it covers any “gap” between the two so your hard-earned assets stay protected.

    Now with Deductible Assistance, you may also get relief when your vehicle is damaged, but not totaled. Get GAP PLUS today and drive with peace of mind.

    Want to learn more?  Take a look at the GAP PLUS brochure.


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    • Handle everything in one place: add on to any AFFCU vehicle loan

    • Can cover motorcycles, boats, RVs, and regular vehicles


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    Explore how auto loans work through the AFFCU Financial Education Center. Review resources, options, and steps to help guide you through the process of selecting and buying a car.


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  • How Does it Work?

    Protect your vehicle investment, not just its value.

    You could lose more than your new or used vehicle if it is lost or stolen or involved in a major accident. You could lose your investment. Because most insurance policies only cover the value of your vehicle – something that rapidly declines during the first few years of ownership – your loan balance can be higher than the value of your vehicle.

    Now you can protect your vehicle investment with Guaranteed Asset Protection (GAP) PLUS. GAP PLUS protects you from a potential loan deficiency and covers the “gap” between the value of your investment and the amount you still owe. When you add GAP PLUS, the difference may be covered to protect your investment and cover you from substantial loss.


    How does it work?

    Here’s an example. Let’s say your car is stolen and not recovered until one year into your loan:

    Original purchase price = $18,000
    Loan balance after one year = $14,000
    Vehicle’s value determine by insurance = $12,000
    Less the deductible = $1,0001

    Insurance settlement amount = $11,000

    Your lost investment without GAP PLUS = $3,000 – your remaining unpaid loan balance.

    With GAP PLUS, you have the opportunity to protect yourself and your investment.


    What does GAP PLUS cover?

    GAP PLUS was designed for all drivers, whether you finance a new or used vehicle. It covers automobiles, vans and light trucks. GAP PLUS coverage goes into effect when you need it most – when your vehicle is stolen and isn’t recovered, or is totaled in an accident.

    Deductible Assistance is designed to provide relief if your vehicle is damaged but not totaled. If auto repairs cost more than your deductible, the deductible amount is applied to your loan, reducing what you owe.

    GAP PLUS may cover the difference between your primary insurance company Actual Cash Value determination and the payoff of your loan plus up to $1,000 of your insurance deductible 1.  Delinquent payments, late charges, refundable service warranty contracts, other insurance-related products, and interest charged after the date of loss will be deducted from the GAP PLUS settlement.

    For more details, visit any branch office or call 210-673-5610 or toll-free at 800-227-5328.




    1 GAP PLUS and deductible reimbursement benefits are available in most, but not all states. Please consult your loan officer or representative for the availability of this important benefit.



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