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Guaranteed Asset Protection (GAP)

Guaranteed Asset Protection (GAP)1 ensures peace of mind in the event your vehicle is totaled or stolen.

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 coverage, you are also eligible for:

  • $1,000 toward the down payment of a new vehicle if it is financed at AgFed2
  • AND up to a $1,000 rebate for your primary insurance deductible3

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

Here's an example of how GAP 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 Guaranteed Asset Protection (GAP) and if you’re not satisfied with the coverage, simply call and cancel!

GAP does not cover the following:

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


(1) 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%. (2) The replacement vehicle must be financed within 60 days of the date your primary insurance company pays the claim on a total loss. (3) Where allowed by state law. Certain restrictions and conditions may apply.