GAP
GAP
Guaranteed Asset Protection (GAP)
In most circumstances, your vehicle is worth a lot less the second you drive it off the lot. Protect the investment made in your vehicle with GAP.
Guaranteed Asset Protection, or GAP, is a voluntary, non-insurance program offered as protection on a new or used vehicle that is financed through the credit union. It is a supplemental benefit that enhances, rather than replaces, your standard comprehensive, collision, or liability coverage. GAP waives the difference between your primary insurance carrier’s settlement and the payoff of your loan. In other words, it protects the “gap” between
Depending on where you live, the established market value of your vehicle could be less than the actual balance you owe. In the event of a total loss or theft, GAP waives the difference between your primary insurance carrier insurance settlement and the payoff of your loan or lease, less delinquent payments, late charges, refundable service warranty contracts and other insurance related charges. Included in the deficiency balance is the deductible up to $1,000.
As an added benefit, the GAP coverage you purchase through the credit union includes Auto Deductible Reimbursement. Auto Deductible Reimbursement pays up to ($500) per Loss (UNLIMITED losses per year) when a Loss is filed and paid by the auto insurance company for a Covered Auto the Member owns or leases evidenced by the title, registration or loan document,
Guaranteed Asset Protection (GAP)
In most circumstances, your vehicle is worth a lot less the second you drive it off the lot. Protect the investment made in your vehicle with GAP.
Guaranteed Asset Protection, or GAP, is a voluntary, non-insurance program offered as protection on a new or used vehicle that is financed through the credit union. It is a supplemental benefit that enhances, rather than replaces, your standard comprehensive, collision, or liability coverage. GAP waives the difference between your primary insurance carrier’s settlement and the payoff of your loan. In other words, it protects the “gap” between
Depending on where you live, the established market value of your vehicle could be less than the actual balance you owe. In the event of a total loss or theft, GAP waives the difference between your primary insurance carrier insurance settlement and the payoff of your loan or lease, less delinquent payments, late charges, refundable service warranty contracts and other insurance related charges. Included in the deficiency balance is the deductible up to $1,000.
As an added benefit, the GAP coverage you purchase through the credit union includes Auto Deductible Reimbursement. Auto Deductible Reimbursement pays up to ($500) per Loss (UNLIMITED losses per year) when a Loss is filed and paid by the auto insurance company for a Covered Auto the Member owns or leases evidenced by the title, registration or loan document,
Our Office
1400 Douglas Street - Mailstop 0040
Omaha, Nebraska 68179-1001
Get in Touch
Phone
Local: (402) 544-2500
Toll-Free: (800) 370-2260
Text Us
(402) 501- 7473
E-mail
memberservice@upcu.org
ABA Routing Number
304083451