Auto Protection Services
Protect Your Ride From The Unexpected
Protect Your Vehicle Purchase
Our vehicle protection services will help you worry less when the unexpected occurs. These affordable options can be built right into your monthly loan payment with minimal change to your auto loan payment.
Guaranteed Asset Protection (GAP)
Auto Advantage Program With ADR
Mechanical Breakdown Protection (MBP)
Guaranteed Asset Protection (GAP)
Purchasing a vehicle is an important decision and major investment. But, did you know that if your vehicle were to be totaled or stolen, your insurance company might not pay off the entire loan balance?
In the event of theft or total loss of your vehicle, most insurance companies only pay the cash value of the vehicle at the time of the loss. In today’s automobile market, a vehicle begins to depreciate the minute it is purchased. Because of this, a vehicle’s outstanding loan balance is typically higher than its actual cash value, especially during the first few years of the loan. Your remaining loan balance could be much greater than the cash value of your vehicle, creating a deficiency of several thousand dollars that you’re liable for! What is the “GAP” on your vehicle? You may be surprised at the answer!
Auto Advantage Program With ADR
When you purchase GAP through AFFCU, you’ll also receive the Auto Advantage Program. This program provides an Auto Deductible Reimbursement (ADR) as a FREE additional benefit.
If you suffer a loss during the benefit period which is covered by your auto insurance policy, then you may be entitled to reimbursement of the auto insurance policy deductible amount up to $500 per loss. This deductible reimbursement is eligible for every vehicle insured by the GAP policy owner.
- Pays up to $500 per Loss (limit of two losses (2) per year) when a loss is filed and paid by the auto insurance company for a covered auto the member owns or leases, AND insures under an Auto Insurance Policy designating the member as the named insured.
- Coverage is effective upon date of enrollment and will continue for three (3) years depending on the benefit period provided.
Mechanical Breakdown Protection
Mechanical Breakdown Protection (MBP) acts as health insurance for your automobile. MBP helps ensure the investment in your vehicle is protected, and reduce the possibility of out-of-pocket expenses when your vehicle suffers an unexpected mechanical failure.
One in three vehicles experience a mechanical failure in a given year. As vehicles become increasingly more complex, associated repair costs rise dramatically. Should your vehicle experience a failure after the manufacturer’s warranty expires, without an extended warranty you will have no protection from the unexpected repair costs that can be in the thousands of dollars.
Let us show you how affordable MBP is and keep you protected from future high out-of-pocket expenses.
