GAP Insurance

Insurance settlements may not always cover your vehicle loss. What can you do?

What is GAP (Guaranteed Asset Protection)

If a vehicle is totaled or stolen, the borrower's primary insurance company settlement can be significantly less than the outstanding loan balance. This may create a deficiency balance or a 'gap' resulting in a serious financial hardship for the borrower. The 'gap' may even jeopardize repayment of the loan. GAP is designed to relieve the borrower of the responsibility for the remainder of the loan balance that the primary insurance carrier does not cover.

Interested in GAP protection on your Auto Loan? Contact Us.

Gap Insurance

Borrower Benefits

Low cost

Low Cost Protection

Low cost protection with a 60 day free look

Out of Pocket

Out-of-Pocket Expense

Eliminates the out-of-pocket expense for the remaining loan balance after loss settlement


Avoid Financial Hardship

Helps the borrower avoid financial hardship and afford a replacement vehicle


Deficiency Prevention

Prevents deficiency balance from being added to a new loan

Credit Rating

Credit Rating Protection

Helps protect the borrower's credit rating

GAP insurance


Ask about GAP with your next vehicle loan at IFCU!