Payment protection for your vehicle.
If your vehicle is totaled or stolen, standard auto insurance may not cover the full amount you still owe on your loan. GAP Insurance bridges that difference — so you're never left paying out of pocket for a car you no longer have.
The second you drive your new car off the lot it drops in value creating a gap in coverage. Guaranteed Asset Protection (GAP) Plus can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out of pocket expenses if your vehicle is totaled or stolen, along with security plus GAP insurance. GAP Plus may cancel part of your next loan with GFA, when you purchase a replacement vehicle.
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What is GAP insurance?
GAP is an optional loan protection product that may cover the difference between the outstanding loan amount and the actual cash value of a vehicle if it’s declared a total loss. Guaranteed Asset Protection (GAP) Plus can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out of pocket expenses if your vehicle is totaled or stolen.
Is GAP insurance required?
No, purchase of GAP is optional. However, it is always best to check all requirements when leasing a vehicle or working through an auto dealer.
How do I purchase GAP?
GAP is offered to all eligible members of GFA. Please contact us to add GAP to your existing loan or to learn more.
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1Discounts and savings are available where state laws and regulations allow and may vary by state. Certain discounts apply to specific coverages only. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify.
TruStage™ Life insurance is issued by CMFG Life Insurance Company, and MEMBERS Life Insurance Company. Auto and Home Insurance Program are issued by leading insurance companies. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any financial institution. Product and features may vary and may not be available in all states. Corporate Headquarters 5910 Mineral Point Road, Madison, WI 53705.
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