Most insurance policies only cover the value of the vehicle, something that rapidly declines during the first years of ownership. If your vehicle, boat, motorcycle, or RV is stolen or involved in a major accident, you could lose your investment.
Guaranteed Asset Protection (GAP) is a non-insurance product and is made available via a loan/lease deficiency waiver that covers the "gap" between the vehicle's value and the amount you still owe. Essentially, GAP covers the difference between your primary carrier's insurance settlement and the payoff of your loan or lease, less delinquent payments, late charges, refundable service warranty contracts, and other insurance related charges, less your deductible. This is an optional product offering from CFCU.
Don't owe on your loan after an accident, have it covered with our GAP product.
Life and Disability Insurance
There is no way to predict an injury, illness, or your unexpected death, but you can take steps along the way to make sure your family is provided for if the unforeseen were to happen. Credit Disability and Credit Life Insurance may help to pay your loan so you or your loved ones don't have to.*
These products are optional offerings from CFCU and the premium is included in your monthly payment. Talk to your Loan Officer about the option of adding this product without increasing your monthly payments.
*Up to your policy maximums; per terms and conditions and exclusions on your Credit Insurance Certificate.