GAP is a program that can help payoff an auto loan balance if a member owes more on the loan than what the car is worth in the event of a total loss or theft. Our GAP program can also potentially aid with auto deductibles and give a member funds toward their next auto loan.
Debt Protection Contact
- 800-826-9384 Ext 56260 (Chris Wiedmeyer with Allied Solutions)
GAP Coverage
- Standard GAP – covers the difference between the member’s outstanding auto loan balance and the actual cash value of the vehicle up to the maximum loan to value (LTV) percentage.
- GAP Advantage – provides the member with $1,000 towards the financing of a replacement vehicle. To receive this benefit there must be a total loss and a new auto loan must be made for the replacement vehicle within 90 days from the member’s primary insurance carrier settlement date or the date of loss.
- GAP ADR – if a member suffers a loss that is covered by their auto insurance they may be reimbursed for full or part of their deductible. This covers up to a cost of $500 and is an unlimited benefit for the first three years of having GAP.
GAP Rules
- GAP can be cancelled and refunded up to 60 days after the protection is purchased.
- GAP claims will be filed either directly with Allied by the member or submitted through a service representative.
Benefits
- Offers you peace of mind by knowing you are protected if an unexpected life event were to happen.
- Saves you money if a life event does happen.