Great Basin Federal Credit Union ::/ GAP Insurance

Guaranteed Asset Protection

Our MEMBER'S CHOICE Guaranteed Asset Protection (GAP) could save you thousands of dollars. Most cars depreciate by thousands of dollars as soon as they are purchased. Unfortunately, if your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared as a total loss, you are still liable to pay the difference or the "gap" between your insurer's settlement and your loan balance. That gap will come out of your pocket for a vehicle that, for all practical purposes, no longer exists.

GAP is a low-cost coverage that pays the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle.

GAP costs just a few dollars per month.
GAP Plus coverage includes up to $1,000 toward your down payment of a replacement vehicle (where allowed by law and when financed by our credit union).
You can sign up for GAP when you apply for your vehicle loan. There's no underwriting, no red tape, no hassles. WE can even roll the cost into your monthly loan payment.
GAP is fully refundable if you cancel the coverage within 90 days.

Click here for our GAP Calculator. You can also call 775.333.4228 for more information.