If your vehicle is totalled or stolen, your primary insurance settlement may be significantly less than your outstanding loan or lease balance. The resulting "gap" may cause you financial hardship.
GAP insurance is designed to cover the difference between your outstanding loan or lease balance and the actual cash value of the vehicle. GAP also covers up to $1,000 of your deductible, and an additional benefit may be available toward the purchase or lease of a replacement vehicle.
For more information about LAFCU's GAP insurance, call (517) 622-6600.
Insurance products sold through or in the credit union are not insured by the National Credit Union Administration and are not issued, guaranteed, or underwritten by the credit union or the National Credit Union Administration or any other federal goverment agency.