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What is GAP Insurance?

GAP (Guaranteed Asset Protection) covers the difference between the cash value of your vehicle and the balance owing if the car is deemed a total loss, up to 150% LTV. GAP is a $575 one-time fee that can be rolled into the loan or paid in cash. GAP also provides a $1000 credit towards the next vehicle you finance through PDCU and unlimited auto deductible claims for up to five years, up to $500 per claim for any vehicle you own and insure.

  • Covers the difference between the outstanding loan balance and the actual value (determined by the insurance company) of the auto up to the max LTV.
  • Covers total loss AND unrecovered theft
  • May cover up to $1000 of the deductible if there is a gap after the insurance pays