Guaranteed Asset Protection (GAP)

did you know logo | community credit union Insurance settlements don't always cover your loss in the event your vehicle is   
 stolen, accidentally damaged beyond repair, or declared a total loss. 

You could be responsible for paying the difference between your primary insurance settlement (vehicle's actual cash value) and your loan balance.  This could add up to thousands of dollars out of your pocket. You'll pay on a vehicle you no longer drive, plus you still have to purchase a new vehicle.  Guaranteed Asset Protection (GAP) protects you from this risk.

How do you know if your vehicle is adequately protected by your primary insurance carrier?

Ask yourself:

  • After I drive off the auto dealer's lot, will I owe more on my vehicle than it's worth?  Vehicles can depreciate by thousands of dollars immediately after the purchase.
  • Will/did I put less than 20% down on the purchase of my vehicle?

Answering "yes" to either question means your vehicle may not be completely protected.  Guaranteed Asset Protection helps protect you from this potential financial burden by paying the difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle.

Features of Guaranteed Asset Protection:

  • 90 day Free Look:  You may cancel your protection within 90 days of your enrollment date and receive a full refund and no cancellation fee.
  • Skipped Payments:  Protection includes skip-a-payment or delinquent-payment features for the life of the financial agreement.
  • Protection Coverage:  Protects new and used vehicles
  • Primary vehicle insurance deductible:  Pays up to $1,000 of your vehicle insurance deductible

Click here to learn about special auto insurance savings for credit union members.

For Additional Assistance:

Please contact a Member Service Representative at 321.690.2328 (outside Brevard, 1.800.690.2338) or send an email to  For your security, DO NOT send account numbers or other private information using this general email address.  Private, unpublished personal information should ONLY be sent through Secure Email, which is available within eBranch Online Banking.  Once you have logged in, click on "Support" in the upper right-hand corner and select the "Secure Email" link.