GAP (Guaranteed Asset Protection) Insurance

Protect Your Vehicle Loan With GAP Advantage 

Vehicle depreciation occurs faster than many think. As soon as you drive off the lot, your car's value can drop by up to 15%, and it will continue to depreciate each year. If your vehicle is totaled or stolen, your insurance will pay what your vehicle is worth at the time of loss — not necessarily what you owe. This leaves a “gap” between the outstanding balance on your loan and the money you’ll receive from your insurance company. Beach Municipal FCU offers Guaranteed Asset Protection, known as GAP Advantage, which covers this difference. 

Don’t let a wrecked vehicle wreck your finances. For more information on how you can take advantage of GAP Advantage, contact us today at 757.333.7787 or through our secure Contact Us form.

Why Is This The Best GAP Policy For Me?

Beach Municipal FCU's GAP Advantage features:

  • Costs a fraction of what you’d pay at the dealership.
  • $1,000 towards the down payment of a replacement vehicle.*
  • Auto Deductible Reimbursement (ADR).
  • Available on both new and used cars, trucks, motorcycles, boats, jet skis, travel trailers, motor homes, ATVs and snowmobiles.
  • 60-day money-back guarantee.
  • Beach Municipal FCU's GAP Advantage actually covers all insured passenger vehicles owned by the member, even those not financed with Beach Municipal FCU! 

GAP Advantage Benefits

GAP insurance offers many potential benefits:

  • Peace of mind knowing you’re covered from unexpected loss.
  • Added protection in the event that your vehicle gets totaled in an accident.
  • Very affordable.

How much does GAP insurance cost?

Beach Municipal FCU's GAP Advantage offers premium coverage for substantially less than you'd pay elsewhere. 

  • One-time premium of $429. 
  • Cost can be rolled into your total loan amount — that's less than $.24 per day on a 60-month term loan!
  • Coverage begins immediately.
What is Auto Deductible Reimbursement?

Auto Deductible Reimbursement (ADR) is designed to provide financial relief when your vehicle is damaged but not deemed a total loss. It helps keep money in your pocket if you need to make an insurance claim.

  • By purchasing Guaranteed Asset Protection, you automatically receive two years of ADR.
  • ADR pays up to $500 per claim, with unlimited claims for two years.

There are some limitations that apply to ADR, which our Loan Officers would be happy to discuss with you in more detail. Please contact us to learn more.

Replacement vehicle must be financed with Beach Municipal FCU within 90 days. Other restrictions, limitations and exclusions may apply.

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