If your vehicle is stolen or considered a total loss, your insurance company settlement may not be enough. Not to worry – we've got you covered. Our Guaranteed Auto Protection (GAP) is designed to help cover the difference between your loan payoff and your insurance company settlement.
|If you originally borrowed:||$18,000|
|At the time of loss you owe:||$15,000|
|Your insurance company declares the actual cash value of your vehicle to be:||-$10,000|
|Your primary insurance deductible is:1||-$500|
|Your total out of pocket expense is:||$5,500|
|GAP coverage will pay:||$5,500|
|Thanks to GAP, you will owe a total of:||$0|
1Deductible coverage is not available in all states.
These products are optional. Insurance products are are not insured or guaranteed by NCUA or any agency of the federal government. You may obtain insurance to protect your loan from other entities.
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