Reduce gaps in insurance coverage
Guaranteed Asset Protection (GAP)
Mind the gap with guaranteed asset protection
Vehicles can depreciate in value quickly—sometimes quicker than you can pay off the loan. This could leave you on the hook financially if your new vehicle is totaled or stolen and not recovered. Ensure you are covered by signing up for GAP¹ from Mountain America.
Our GAP product can help:
- Make up the difference between your insurance coverage and the amount owed on the loan.
- Pay your insurance deductible.
- Provide a credit toward your replacement vehicle loan.
So instead of paying off a substantial loan balance before you can shop for a new vehicle, you could be free and clear. For example, if you owe $25,000 on your vehicle but it’s only worth $20,000, you’d normally need to pay $5,000 out of pocket. But if you have GAP, that remaining amount is generally covered. You pay $0.
Auto deductible reimbursement
Most accidents don’t result in the vehicle being totaled. For times when you need repairs, our GAP program has you covered with auto deductible reimbursement (ADR). It reimburses you up to $1,000 of your insurance company’s deductible.
Replacement loan credit
Total-loss accidents can be devastating, especially if you love cars as much as we do. That’s why our GAP product includes a replacement loan credit. We will apply a credit of $3,000 to your new loan if you finance the replacement vehicle at Mountain America.²
Get GAP
To see if your vehicle and loan qualify for GAP from Mountain America, call toll-free 1-800-748-4302.
More resources
GAP claims
Filing a GAP claim is easy.
Call 1-800-748-4302ADR claims
To file a deductible reimbursement claim for a loan obtained on or after April 1, 2024, click here:
File or manage a claim
For loans obtained before April 1, 2024:
Call 1-877-296-4892Auto insurance
Quality protection at a great price.
Learn moreVehicle protection
Protect yourself from auto repair costs not covered by the factory warranty.
Get details- Vehicle must be financed at Mountain America Credit Union to be eligible for the purchase of GAP. The purchase of GAP is optional. Whether or not you purchase GAP will not affect your application for credit or the terms of any existing credit agreement you have with our institution. There are eligibility requirements, conditions and exclusions that could prevent you from receiving benefits under GAP. You should carefully read the contract for a full explanation of the terms. Skipped or missed payments, late charges, refundable service warranty contracts, other insurance-related products and interest charged after the date of loss, or any portion of a deficiency balance that results from an original financed amount that exceeds the maximum allowable loan/lease to value ratio may be deducted from the GAP settlement.
- This amount only applies to GAP products sold after July 1, 2022. GAP purchased before July 1, 2022, but after August 1, 2017, will receive a credit of $2,500. GAP purchased prior to August 1, 2017, will receive a credit of $1,000.
