Protect Your Investment

CUNA Mutual GAP Protects You.
Protection for new and preowned vehicles
Protection for motor and power-sport vehicle loans valued up to $100,000
Protection for recreation vehicle loan valued up to $125,000
Protection for watercraft vehicle loans valued up to $50,000
Protection for the entire term of the loan
Minimal cost
Pays deductible coverage up to $1,000*
90-day free look - you may cancel your protection within 90 days of enrollment and receive a full refund.

Benefits customers, financial institutions, lessors and vehicle dealers

*Not available in all states

Q    If your Vehicle Is Totaled Or Stolen,
Will Your Insurance Cover The Entire Loss?

A    Not Likely. Be Prepared to
           Lay Out Additional Cash!

Did You Know.

  • The market value of your new vehicle starts to depreciate the moment you take possession.
  • If your vehicle is totaled or stolen, your insurance usually does not cover the entire amount you owe on a lease or a loan.
  • If a total loss occurs, you may have to pay the difference, the gap, between what you owe, and the actual cash value of your vehicle, from your own pocket.
  • Now, buyers and lessees of new and preowned vehicles can obtain a product that will pay off loan and lease balances and that could help in the purchase or lease of a new vehicle!
Vehicles Covered
Automobiles Motor Homes
Motorcycles Pop Ups
Trucks ATV's
Light Trucks Boats
Vans Personal Watercraft
Trailer Homes Snowmobiles

Now, You Can Protect Your Investment.

Basic Form
Pays the difference between the amount paid by the primary insurer (the actual cash value) and your outstanding loan or lease balance, less any primary insurance deductibles.
Broad Form
Pays the difference between the actual cash value of the total loss vehicle and your outstanding loan or lease balance. It also pays your primary insurance deductible, up to $1,000.

How GAP Works.

Loan Amount = $25,000
Term = 60 months
Loss Date = 36 months
 
Loan/Lease Payoff $15,000
Insurance Settlement* $12,000
GAP ($3,000)
Insurance Deductible ($1,000)
Potential Out-of-pocket Expense ($4,000)
GAP Payment to Lender $4,000
Out-of-pocket Expense
with GAP Protection
$0.00

*Actual Cash Value of Vehicle

Georgia Credit Unions


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