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Home > Member Services > Insurance > Guaranteed Asset Protection (GAP)

Guaranteed Asset Protection (GAP)

Consider GAP if you are:

Now you can protect your vehicle investment with Guaranteed Asset Protection (GAP). GAP is not an insurance plan, rather, it is an addendum to your loan that offers protection against financial loss if your vehicle is stolen or damaged beyond repair (deemed a Total Loss). GAP is available for members that finance their vehicle(s) with a loan from WPCCU.

GAP helps eliminate the difference between your primary 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 this difference is your insurance deductible, which is limited to $1,000.

Here's how GAP works. Let's say after one year, the vehicle you purchased for $25,000 is valued at just $16,000. You still owe $20,000 when it is stolen and never recovered or is involved in an accident in which it is damaged beyond repair. Most insurance policies will only reimburse you for the value of your vehicle, $16,000, leaving you to repay the remaining loan balance of $4,000. GAP provides for the waiver of that $4,000 for you, including your insurance policy deductible, up to $1,000.

What's the cost for this valuable level of protection? Our GAP is just $499.00 for eligible new and used vehicles. GAP is also available on RVs, boats, and travel trailers; the fee is determined by the balance of the loan. This is a small price to pay for real peace of mind.

Also, to thank you for purchasing GAP, we will provide you with the Auto Advantage Program which includes the Auto Deductible Reimbursement (ADR) benefit and other valuable services*. Ask your loan representative to learn more.

*Auto Deductible Reimbursement (ADR) is one benefit of the Auto Advantage Program. Other benefits include Personal ID Resolution Consulting and Warranty Registration.

GAP...for affordable peace of mind.

For more information on GAP Coverage, call 800-300-9728.

This is general information only. GAP does not replace or eliminate the need for vehicle insurance coverage.

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