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Protect Your Vehicle Investment, Not Just Its Value You could lose more than your vehicle if it is stolen or involved in a major accident. You could lose your investment. Because most insurance policies only cover the Actual Cash Value of your vehicle - something that rapidly declines during the first few years of ownership - your loan balance could be higher than what your insurance company will pay in the case of a claim. What Does GAP Cover? GAP covers the difference between your primary carrier
insurance settlement and the payoff of your loan on the date of
the loss. Included in this coverage is your insurance deductible,
which is limited to $1,000. GAP Advantage also pays an additional
$1,000 towards the purchase of a new vehicle when financed through
the credit union. |
