Home > Investments > Insurance > Gap and Major Mechanical Insurance
Major Mechanical Protection
With automobile repair costs on the rise, mechanical breakdown coverage becomes a necessity. Mountain America Insurance Services, in cooperation with National Auto Care, can help. We offer several types of coverage, various terms and even the potential to refund your full premium. The premium can also be financed into your auto loan.
To learn more or get a free quote, click here.
Guaranteed Auto Protection (GAP)
Whether your car is stolen or totaled, the aftermath can be as traumatic as the event itself. Under most loan agreements, you could be liable for big financial obligations that may not be covered by your auto insurance. Mountain America Insurance Services offers Guaranteed Auto Protection (GAP) to help you if the unexpected occurs.
GAP covers the difference between the market value of your vehicle and the loan/lease balance (less delinquent payments, late charges, refundable service warranty contracts and other insurance related charges). In the event a deficiency exists, our program will even cover your insurance deductible, up to $1,000.
For Example:
- Loan balance after one year $15,000
- Your vehicle's actual cash value $11,000
- Your deductible $1,000
- Insurance settlement $10,000
- The difference $5,000
- GAP pays $5,000
Without GAP coverage, you would be required to pay this $5,000 in order to pay off your loan/lease balance.
You can get Guaranteed Auto Protection for just $299.00. GAP can be purchased within the first year of receiving your automobile financing. For more information, click here or contact us by phone at 801-325-6228 or toll-free at 1-800-748-4302.
Insurance products are not deposits of Mountain America Credit Union and are not protected by the NCUA. They are not an obligation of or guaranteed by the Credit Union and may be subject to risk. Any insurance required as a condition of an extension of credit by the Credit Union need not be purchased from the Credit Union and may be purchased from an agent or insurance company of the member's choice. Insurance products are not exclusive to Mountain America Credit Union members. Mountain America Insurance Services, LLC is a wholly owned subsidiary of Mountain America Financial Services, which is a wholly owned subsidiary of Mountain America Credit Union. Business conducted with Mountain America Insurance Services, LLC is separate and distinct from any business conducted with the Credit Union.
