What is GAP insurance?
GAP (Guaranteed Asset Protection) insurance offers an added level of protection on your vehicle loan that covers the difference between what your primary insurance covers and the outstanding balance of your vehicle loan should your insurance carrier declare your vehicle a total loss due to an accident or theft.

Why should I purchase GAP?
When financing your auto loan for a longer term with little or no money down, your vehicle quickly loses value in relationship to the loan, causing a gap between the true value and what is owed on the vehicle. If your vehicle were totaled or stolen, you would be responsible for paying the difference, even though you no longer owned the vehicle. GAP insurance can save you thousands of dollars in the event of a total loss. Plus, in the event of a claim, you will receive $2,500 cash toward the purchase of a new vehicle.

Loan Questions? Contact a Loan Officer at 801-399-9728, or you can get a quote.

How do I purchase GAP?
GAP insurance is purchased at the time of loan closing. Ask your loan officer for information about GAP insurance.

How much does GAP cost?
GAP insurance varies by vehicle. Get a quote here or ask your loan officer.

Can I add the cost of GAP to my loan?
In many cases, yes; the cost of GAP insurance can be added to your loan balance. Ask your loan officer if your loan is eligible to have the GAP insurance added to the balance at loan closing. GAP Insurance can also be added after your loan has been closed.