Guaranteed Asset Protection (GAP) is an optional protection product that may help cover the difference between what you owe on your vehicle loan and your auto insurer's settlement if your vehicle is declared a total loss due to a covered accident or theft. This difference is commonly called the "gap."

How does GAP coverage work?

If your vehicle is totaled or stolen and your auto insurance settlement is less than your remaining loan balance, GAP may help cover some or all of the remaining balance, subject to the terms, conditions, and exclusions of your agreement. This can help reduce your out-of-pocket financial responsibility.

Is GAP the same as auto insurance?

No. GAP is not auto insurance and does not replace your auto insurance policy. Auto insurance helps pay for covered vehicle damage, injuries, or liability. GAP is designed to help with the remaining loan balance after your insurance company has paid its covered settlement for a total loss.

Does GAP coverage cover vehicle repairs?

No. GAP does not cover mechanical breakdowns or repair costs. It applies only if your vehicle is declared a covered total loss, according to the terms of your GAP agreement.

How long does GAP coverage last?

GAP coverage generally remains in effect for the term of your agreement or until your loan is paid off, refinanced, or otherwise terminated, whichever occurs first. Refer to your agreement for specific coverage terms.

Open Account Apply For Loan

Phone

(800) 769-1424

Address

3710 N. 50th Street, Tampa, FL 33619

Routing Number

263183049

NMLS

236777

Convenience

Contact Locations & Hours Digital Banking Careers Rates Reviews

Support

Lost or Stolen Card FAQs Accessibility Privacy Policy Forms Disclosures Fee Schedule

Download Our Mobile App

Preferences

Created by The Pod