Guaranteed Asset Protection (GAP) is a voluntary product that covers the difference between your loan balance and the amount your insurance policy would pay out if your vehicle were to be damaged beyond repair ("totaled") or stolen and never recovered. Your insurance policy will pay you the cash value of the vehicle, while GAP coverage is paid when the loan balance is higher than the vehicle's actual cash value paid by your insurer. Subject to limitations and exclusions including, but not limited to loan-to-value (LTV) maximum, delinquent payments, late charges, refundable service warranty contracts and other insurance-related charges. Fully refundable within first 60 days if no GAP Advantage benefits have been paid.
You can add GAP during a new vehicle financing, as well as to one financed within the past 12 months.
Your purchase of any of these Protection Plans, are optional and will not affect your application for credit or the terms of any credit agreement, you have with us. You may need to meet certain eligibility requirements, conditions, and exclusions may apply.
For more information about the above optional product including costs, limitations, exclusions and conditions, contact our Member Contact Center at 800-553-0880.
Insurance products are not deposits of Tech CU and are not protected by the NCUA. They are not an obligation of or guaranteed by Tech CU and may be subject to risk. Any insurance required as a condition of an extension of credit by Tech CU need not be purchased from Tech CU and may be purchased from an agent or an insurance company of the member's choice. Tech CU Insurance Services is a wholly-owned subsidiary of Tech CU. Business conducted with Tech CU Insurance Services is separate and distinct from any business conducted with Tech CU. License #0D64587.