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Guaranteed Asset Protection

Protect your auto or recreational vehicle investment with Guaranteed Asset Protection (GAP). GAP is a non-insurance product that covers the “gap” between your vehicle’s value and the amount you still owe. If your vehicle is stolen or involved in a major accident, GAP may cover the difference between your primary carrier insurance settlement and the payoff on your loan. GAP comes with auto deductible reimbursement of up to $500.

In addition, GAP Advantage could pay an additional $1,000 toward the purchase of a replacement vehicle when you finance the new vehicle through Fire Police City County FCU within 90 days of an adverse occurrence to your vehicle.

Guaranteed Asset Protection

  1. Must finance new vehicle within 90 days of accident date.
  2. Auto Deductible Reimbursement Benefit:

Pays up to $500 Per Loss (limit of two losses (2) per year) when a loss is filed and paid by the auto insurance company for a covered auto the member owns or leases evidenced by the title or registration, AND insures under an auto insurance policy designating the member as the named insured.

Loss means an event for which the auto insurance company has approved & paid a collision or comprehensive claim which exceeds the auto insurance policy deductible for the covered auto.

If you suffer a loss during the benefit period which is covered by your auto policy, you may be entitled to reimbursement of the auto insurance policy deductible amount up to $500 per loss. To be eligible for reimbursement, you must own or lease and insure the covered auto under an auto insurance policy designating you as the named insured.