GAP INSURANCE

This is a great add-on product you can require your members to have when you over-finance a loan. It allows you to make some loans that you otherwise wouldn't and increases your member satisfaction. GAP protection provides that in the event of a total loss of the covered vehicle, the difference between the primary insurance carrier’s loss settlement and the outstanding balance under the provisions of the financial agreement up to $50,000 will be waived.

This coverage is now available for more than just auto loans. It includes commercial vehicles, recreation vehicles, power sport and watercraft. And it's available for new and used vehicles at a low cost to your member.

The plan includes:

• Protection provided for the term of your loan/lease, up to 72 months
• Protection for vehicles up to $100,000 at time of purchase
• Benefits paid up to $50,000
• Deductible covered up to $1,000
• No model year restrictions

It takes less than five minutes to learn how to sell and administer GAP through our Internet-enabled data transmission systems or our Microsoft Windows-based calculators. These systems can be configured for stand-alone or network installation and provide for coverage and price quotations, issuance of policies or contracts, and monthly reporting. Take the challenge and see how easy it is to become a GAP expert. Meet your institution's needs whether you are concerned with risk management, product enhancement, or increasing fee income.