GAP INSURANCE

Protect your vehicle with GAP insurance.

Get a free GAP insurance quote and find out how much you can save.

Benefit from Member-exclusive GAP insurance pricing.

In the event your vehicle is stolen or totaled, the settlement your auto insurance company would provide may be substantially less than the amount you owe on your loan.

Guaranteed Asset Protection insurance, or GAP, is optional, add-on coverage that helps cover the gap between the amount still owed on the vehicle and its actual cash value.

For example, say your vehicle is totaled in an accident and you are found not at fault. You still owe $10,000 on your loan at the time of the accident, but the actual cash value of your vehicle is only $5,000. After your deductible, GAP insurance would cover the $5,000 difference.

How much does GAP cost?

On autos, you can expect to pay only about $5 per month on average for GAP coverage.

AutosMotorcycles
Up to 60 Months$298$398
61-72 Months$398$425
73-84 Months$425

Do I need GAP insurance?

GAP insurance is not for everybody, but if you fit into one of the following categories, it could be a smart investment:

  • You made a down payment less than 20%, so you may owe more than your car is worth.
  • Your loan term is longer than 48 months. With a longer loan term you build equity more slowly.
  • You drive more than 15,000 miles annually, which causes the vehicle to depreciate faster.
  • The make and model of your vehicle depreciates faster than average.

Get a free GAP Insurance quote.

1 Vehicle Information
2 Personal Information

Get help with GAP insurance.

Generally yes, car dealerships do offer GAP insurance; however, our prices are substantially lower than what auto dealers typically charge. On average, dealers typically charge $995.

You only have to purchase GAP once and you’ll be protected for the life of the loan.

No, GAP insurance does not require you to have a deductible.

If your vehicle is totaled in an accident or stolen and not recovered, the insurance settlement based on the actual cash value of your vehicle—not the outstanding loan balance. This could create a loan “gap”—money you owe on the loan after the insurance company pays its portion. Optional GAP may cover the difference between the outstanding loan amount and the actual cash value of the vehicle. Note: GAP cannot be transferred from one vehicle to another. GAP Insurance does not replace your required comprehensive and collision auto insurance. Your purchase of Guaranteed Asset Protection is optional and will not affect your application for credit. Eligibility requirements, conditions, and exclusions apply.

  • GAP insurance is provided by MemberFirst©. GAP insurance claim and final coverage determination is made at the time of the total loss claim. We cannot and do not guarantee coverage examples applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. Your purchase of GAP is optional and will not affect your application for credit. Eligibility requirements, conditions, and exclusions apply. Refer to the actual GAP policy for full details.

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