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If your vehicle is totaled or stolen, you could be on the hook for the amount your insurance doesn’t cover.
In the event of theft or total loss of your vehicle, most insurance companies only pay the Cash Value of the vehicle at the time of the loss. Your remaining loan balance could be much greater, creating a deficiency of several thousand dollars for which you’re liable!
Guaranteed Asset Protection (GAP) coverage protects you against this liability.
SECU’s GAP Advantage costs just $465 – that’s pennies a day over the life of your loan and hundreds of dollars less than what most dealerships charge for the same coverage.
Insurance deductibles are covered up to $1,000.
And if your vehicle is totaled or stolen, GAP Advantage pays an additional $1,000 towards the purchase of another vehicle when you finance it through SECU.
To learn more or for a free quote, visit any SECU branch or call us at 410-487-7328.
Insurance products are not insured by the National Credit Union Share Insurance Fund (NCUSIF), are not a SECU deposit, might lose value, have no credit union guarantee, and are not insured by any Federal government agency. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by your credit union.