Gap Insurance
Loan Protection - GAP INSURANCE
Don’t Pay for a Car You No Longer Have
If your vehicle is totaled or stolen, your insurance may not cover everything you still owe. GAP coverage helps protect you from paying the difference.
What Is GAP Coverage?
Guaranteed Asset Protection, or GAP, helps cover the difference between what your vehicle is worth and what you still owe on your loan if it’s totaled or stolen. It’s an extra layer of protection that helps keep one bad day from becoming a bigger financial headache.
Because Your Loan Balance and Car Value Don’t Always Move Together
Here’s What That Could Look Like
Numbers make this one easier to see. Here’s a simple example:
What GAP Helps with
Loan Protection
Helps cover the gap between your insurance payout and what you still owe.
Budget Backup
Helps protect your savings from a large, unexpected expense.
Peace of Mind
Gives you one more way to feel protected if the unexpected happens.
Not only do we offer GAP insurance, we also offer a GAP advantage waiver. This is where if you happen to total your vehicle that has GAP insurance on it, you will get $1,000 put toward the balance of your replacement vehicle as long as you finance it with us within 90 days of the loss!
Frequently Asked Questions
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What vehicles are covered by GAP Insurance?
Vehicles guaranteed asset protection insurance covers include:
- Automobiles
- Vans
- Light Trucks
- ATVs
- Motorcycles
- Jet Skis
- Snowmobiles
- Boats
- Travel Trailers
Please confirm your vehicle's eligibility with a Topside FCU representative.
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Is there a time limit to add GAP coverage to my Topside FCU loan?
Yes. You must add GAP insurance to your eligible Topside FCU loan within 30 days of financing.
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How much does GAP insurance cost?
The cost of GAP insurance varies per loan. Please contact us at 540-663-2181 to discuss your options.
More Protection for the Road Ahead
Protect Your Loan and Your Vehicle
GAP coverage helps protect your loan if your vehicle is totaled or stolen. Extended Warranty coverage helps protect you from costly covered repairs.
Together, they help cover two major “what ifs” that can hit your budget hard.
Interested in GAP Coverage?
Fill out the form below and we'll get in touch as soon as possible to discuss your options.
GAP coverage, eligibility, terms, limitations, and exclusions may vary. Please speak with a Topside representative for complete details.
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