GAP PLUS Car Loan Repayment Protection
In the event of a theft without recovery or the total loss of your vehicle, most auto insurance policies only pay the cash value of the vehicle at the time of the loss. Your remaining loan balance could be much greater than your vehicle’s cash value, creating a deficiency of several thousand dollars that you’re liable for! What is the “GAP” on your vehicle? You may be surprised by the answer – but with Guaranteed Auto Protection (GAP), you don’t have to be panicked.
Plus, you receive a complimentary benefit with UECU’s GAP coverage – an Auto Deductible Reimbursement (ADR). This benefit provides you with financial relief when your vehicle is damaged but not deemed a total loss. ADR will reimburse you up to $500 for your comprehensive and collision claims, for the first three years of your UECU auto loan. ADR covers vehicles registered in your name and insured under your individual primary auto insurance policy, excluding motorcycles.