Protection & peace of mind.

GAP - Guaranteed Asset Protection

GAP is available to any IFCU member who is purchasing a new vehicle or refinancing from another financial institution.  GAP helps protect you and also the Credit Union. This coverage protects the deficient balance of your loan if an accident occurs and your vehicle is a total loss.  This coverage terminates at maturity date of the loan, or can be canceled within a certain time period.

If you owe $4000.00 on a loan for a vehicle and the insurance only pays $2,500.00 for the loss of the car, GAP Protection would pay the remaining balance (within the LTV % guidelines) and the insurance deductible.

  1. IFCU offers one the lowest GAP costs in the area.
  2. Protects against financial loss in the event of unrecovered theft of the vehicle or if the vehicle is declared a total loss.
  3. There are no model or year limitations.
  4. Protection up to $100,000 – limited exclusions apply.
  5. Debt may be protected up to $50,000.
  6. Deductibles may be covered up to $1,000.
  7. Coverage is available for the term specified in the agreement, up to 84 months.
*Please consult with an IFCU representative to learn more about the specific terms involved with GAP as certain fees, terms and conditions may apply.