Protect your auto investment…with Guaranteed Auto Protection

That’s because your insurance company settlement is based on the vehicle’s actual cash value. And because of the way vehicle values decline, the outstanding loan balance is usually higher than the actual cash value. You could end up paying off a loan balance for a vehicle you can no longer drive!

Guaranteed Auto Protection (GAP) is designed to eliminate your unpaid auto loan balance in the event your vehicle is totaled or stolen. GAP supplements, but does not replace, your primary auto insurance coverage.

For the one-time cost of $297.00, GAP covers the difference between the actual cash value of your vehicle (primary insurance settlement) and your outstanding loan balance at the time of loss, less certain deductions like credit insurance or service warranty contracts.

GAP is designed for all drivers, whether you finance a new or used vehicle. It may even cover your insurance deductible – up to $1,000 – as part of your claim settlement. And, the cost of GAP can be financed with your loan.

GAP will also give you $1,000 towards your replacement vehicle, financed at the credit union.

For more information about GAP, please call Greylock Member Services at (413) 236-4000 or send us an email. GAP keeps you in the driver’s seat!

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