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GAP Insurance


AgFed makes it worry free for you if your car is ever totaled or stolen! By accepting Guaranteed Asset Protection (GAP) ** with your AgFed auto loan, you are protecting your wallet and your credit.

GAP pays the difference between the actual cash value of your vehicle and the outstanding loan value at the time of your loss**. PLUS with AgFed’s GAP protection, you are also eligible for:

$1,000 toward the down payment of a new vehicle if it is financed at AgFed

AND up to $1,000 rebate for your primary insurance deductible 

GAP protection is available for new and used cars, vans, and light trucks, including sport-utility vehicles.

Here's an example of how GAP insurance may work for you:

Loan of Balance at time of loss: $12,500
Value of Car at time of loss: $10,000
Insurance Settlement: $10,000
Deficiency Balance: $  2,500
AgFed GAP Protection Pays: $  2,500
You Owe: $0

Without GAP coverage, you'd be liable for the $2,500 deficiency balance.

You have a 90 Free Look period for our GAP protection and if you’re not satisfied with the coverage, simply call and cancel!

Calculate your GAP insurance payment.

GAP does not cover the following:

  • Late charges or other fees added after the loan's inception
  • The cost of the GAP waiver

** Guaranteed Asset Protection (GAP) is not intended to replace your automobile insurance. It does not provide bodily injury, property damage, liability, or collision insurance and does not comply with any financial responsibility or any other law mandating motor vehicle insurance. All new or used motor vehicles with a maximum loan of $100,000 are eligible. Benefit coverage limits up to $50,000 with a loan term up to 84 months. Maximum loan to value paid on claim is 125%. (1)The replacement vehicle must be financed within 60 days of the date your primary insurance company pays the claim on a total loss. (2) Where allowed by state law. The credit union makes loans and extends credit without regard to race, color, religion, national origin, sex, handicap or familial status. Restrictions and conditions may apply.

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