Guaranteed Auto Protection

When you finance an auto, Guaranteed Auto Protection (GAP) Insurance protects you against a financial loss, in the event that your vehicle is totaled or stolen and never recovered. GAP insurance will pay the difference between the insurance company's settlement and your remaining loan balance.
 
Why do I need GAP?
When your vehicle is deemed a total loss, your auto insurance company may not cover the amount needed to pay off your finance or lease contract. Auto insurance companies generally pay the market value of the vehicle minus any auto insurance deductible (if applicable). GAP insurance covers the difference between the market value of your vehicle and the loan/lease balance, less any delinquent payments, late charges, refundable service warranty contracts and other insurance related charges.
 
How do I purchase GAP?
GAP insurance can be financed directly into your USA Federal loan or paid in cash up front. Purchasing GAP insurance through USA Federal is usually less expensive than if you purchased a policy through an auto dealership.