Home Page »
Online Banking
Value Added Services > Guaranteed Auto Protection (GAP)

Guaranteed Auto Protection (GAP)

Will your insurance pay off your loan if your car is totaled?

Don't learn about GAP risk the hard way!  If your vehicle is totaled or stolen, your primary insurance will usually pay only the actual cash value (current market value) of your vehicle, less your deductible. 

The result could be a financial GAP where you must pay the difference between your loan balance and your insurance settlement.  This could mean thousands of dollars out of your pocket.

For Example:
Original Amount Borrowed: $18,000

 

Amount still owed at time of loss $15,000
Vehicle value after 1 year - $10,000
Primary Insurance Deductible - $500
 

 

Total you are responsible for (your gap) $5,500
GAP coverage may help pay - $5,500
 

 

Total estimated out of pocket expense with GAP $0

What are your chances of having a GAP?  Click here to find out!

Helps eliminate this out of pocket expense with GAP from SAFE.  With Guaranteed Auto Protection, you receive the following benefits:

  • Helps eliminate "out-of-pocket" expense for remaining loan balance after loss settlement
  • Helps protect credit rating
  • Helps borrower to purchase replacement vehicle

Who needs GAP? Click here to learn more about your risk.

Click here for questions on this cost-effective way to eliminate your GAP risk, call (916) 979-SAFE or (800) 733-7233 or visit any SAFE branch.

 

© SAFE Credit Union. All Rights Reserved.
Protecting your privacy is our top priority. Please refer to our Privacy Statement for more information.