Guaranteed Asset Protection (GAP) with Deductible Assistance
If your vehicle is deemed a total loss due to an accident or theft, you may wind up owing more on your loan than your auto insurance will cover. GAP may reduce or even eliminate that shortfall in the event your vehicle is deemed a total loss.
If your vehicle is damaged, but not deemed a total loss, GAP with Deductible Assistance may be able to relieve some of the financial burden by allowing the deductible amount to be applied to your loan when the repairs cost more than your deductible, reducing what you owe.
- By purchasing Guaranteed Asset Protection, you automatically receive Deductible Assistance.
- Deductible Assistance pays up to $500 per claim, with a maximum of 2 claims every 12 months.
Disclosure:
GAP, which includes deductible assistance, is not insurance; it is an optional debt cancellation product. GAP will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP Fee to the amount financed under your contract will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid. GAP purchased from state-chartered credit unions in FL, GA, IA, IN, UT, VT, and WI may be with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you purchase a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee. GAP purchased from state-chartered credit unions in CO, MO or SC may be canceled at any time during the loan and receive a refund of the unearned fee.
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Payment Protection
Member’s Choice Borrower Security™ payment protection is another option on some loans. Payment protection will write off your loan balance or temporarily cancel payments in the event of death, disability, or involuntary unemployment.
- Payment protection can be a smart choice if disability or unemployment would affect your ability to pay
- If a borrower is diagnosed with a terminal illness or dies, payment protection may cancel up to $100,000 of their balance
- Up to six months or $6,000 of payments may be canceled for a borrower with disability coverage
- Involuntary unemployment may cancel up to three months or $3,000 of payments for a borrower who loses their job
- Limitations and exclusions apply
Auto Deductible Reimbursement (ADR) – No longer actively offered
Auto Deductible Reimbursement is included with some Guaranteed Asset Protection policies. ADR reimburses up to $500 of your auto deductible if you make an insurance claim.
- No longer actively offered, but was included on purchased Guaranteed Asset Protection policies prior to September 2024.
- ADR pays up to $500 per claim, with unlimited claims for three years
Submit A Claim
- To submit a Guaranteed Asset Protection claim, call us at 800-341-9911.
- To submit a Deductible Assistance claim, call us at 800-341-9911.
- To submit a payment protection claim, call us at 800-341-9911
- To submit an Auto Deductible Reimbursement claim, contact an Allied claims administrator. You can call 877-296-4892 or visit assuranceplus.com/claims. You’ll need a copy of your insurance policy, and a receipt for a paid deductible.
