GAP Protection


In most circumstances, your vehicle is worth a lot less the second you drive it off the lot. Protect the investment made in your vehicle with GAP.

What is GAP?

Guaranteed Asset Protection, or GAP, is a voluntary, non-insurance program offered as protection on a new or used vehicle that is financed or leased. It is a supplemental benefit that enhances, rather than replaces, your standard comprehensive, collision, or liability coverage. GAP waives the difference between your primary insurance carrier’s settlement and the payoff of your loan. In other words, it protects the “gap” between your vehicle’s value and the amount you still owe in the case it is damaged beyond repair or stolen and never recovered.

Who does GAP protect?

GAP is designed for all drivers, whether you are financing or leasing a new or used vehicle. Automobiles, vans, light trucks, motorcycles, boats, travel trailers, motor homes, golf carts, jet skis, and even snowmobiles may be eligible. 


How does GAP work?

Depending on where you live, the established market value of your vehicle could be less than the actual balance you owe. In the event of a total loss or theft, GAP waives the difference between your primary insurance carrier insurance settlement and the payoff of your loan, subject to limitations and exclusions including a maximum loan-tovalue limitation which may cap the benefit you receive. Included in the deficiency balance is the deductible up to $1,000.


The following is an example of GAP in action:

You're in an accident and your one-year-old financed vehicle is a total loss and beyond repair.

Your loan balance is   $15,000 
 Your insurance company settlement is  $10,000
 based on your vehicle’s market value  $11,000
 less your insurance deductible   $1,000
 Loan balance remaining without protection  $5,000
 Loan balance remaining with protection   $0


GAP Keeps You In The Driver’s Seat. Download Gap Insurance PDF here.


Auto Advantage Program with ADR

As a thank you for purchasing GAP, you will receive the complimentary Auto Advantage Program which includes the Auto Deductible Reimbursement (ADR) benefit and other valuable services. The Deductible Reimbursement benefit pays up to $500 per loss (unlimited losses per year) when a claim is filed and paid with the primary insurance carrier. Ask your loan officer to learn more.

Download ADR Brochure here.


How to get GAP Insurance

Tell your Loan Officer that you’d like GAP Protection and it can be added at the time of loan financing. For personal help with GAP Insurance, drop by your neighborhood West Texas CU branch or give us a call at (432) 934-0433.


GAP disclosures. Your purchase of GAP is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us. We will give you additional information before you are required to pay for GAP. This information will include a copy of the GAP Waiver Addendum which will contain the terms and conditions of GAP benefit.

GAP eligibility requirements, conditions, and exclusions. There are eligibility requirements, conditions and exclusions that could prevent you from receiving GAP benefits. You should carefully read your GAP Waiver Addendum form for a full explanation of the benefits, rules, terms and conditions of the program. This document is not a contract. GAP is a loan/lease deficiency waiver and is not offered as insurance coverage.

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