One of the first things you do when purchasing a new or used automobile is to establish insurance to protect yourself if the vehicle is stolen or damaged. Did you know that this insurance might not provide the funds you need to replace your current vehicle?

You may be left with a GAP, an unpaid balance you still owe to the credit union or other lending institution. KPOCU can help you fill that gap with GAP Protection. This product covers the difference between actual cash value and the loan payoff, up to $50,000 in financing. This protection covers up to 150% of the MSRP value on new vehicles or the NADA retail value on used vehicles. The plan offers life of loan protection and covers your primary insurance deductible - up to $1000.

In the event that the collateral is declared a total loss you may be eligible to receive the GAP Advantage Protection benefit in the amount of $1000. The GAP Advantage Protection benefit has no cash value and will only be paid in the form of a credit towards the amount financed with KPOCU for your replacement vehicle. GAP Advantage Protection is only available for 90 (ninety) days from date of loss.

The price of this valuable member benefit is a flat rate of $299. Check with a KPOCU Loan Representative for more information.