Loans & Credit Cards

Auto Center : GAP Insurance

If you think your auto insurance has you covered, you may want to think again. In some cases, an auto accident or theft can leave you with an unpaid balance on your auto loan. That balance is not covered by conventional auto insurance. But with GAP insurance, you can rest easy.

Think about it. If your car is stolen or totaled in an accident, you will still be responsible for the difference between your insurance payout and your loan balance. That's where GAP insurance comes in.

Gap insurance fills the gap for your obligation, particularly in the first 2-3 years when the vehicle depreciates faster than your loan principal decreases. It gives you more complete insurance coverage, and it's easy and inexpensive at just $200 for non-commercial vehicles. Ask your loan officer for details to see if you could benefit from this low cost coverage. For more information email us at loans@usacu.org.