Guaranteed Asset Protection (GAP) for Autos
The joy of GAP
Guaranteed Asset Protection (GAP) hardly sounds joyful. But it could bring a huge smile to your face if your car suffers a total loss.
Coverage for underinsured vehicles
Your car is stolen or damaged beyond repair. But when you get the insurance pay-off, it is less than what you still owe on the loan. You’ve been gapped, at no fault of your own. That’s because your vehicle depreciated faster than the loan balance paydown.
Close the gap and your wallet or purse
WPCCU provides GAP coverage that includes both the balance remaining on the loan and your insurance policy deductible up to $1,000. Cars, trucks, vans, RV’s, boats and travel trailers may be covered, at a price so low, you will no longer be smiling, but laughing out loud in joy.
Just remember, GAP does not replace or eliminate your need and legal requirement to have vehicle insurance coverage.