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Guaranteed Auto Protection - GAP Insurace



What is GAP?

GAP Insurance is an optional protection package that helps cover the difference between the actual cash value of the vehicle (primary insurace company settlement) and the outstanding loan balance at the time of loss.  Some benefits included, but not limited to, are:

  • GAP pays off your remaining loan/lease balance should your vehicle be stolen or totalled. *Subject to certain exclusions and benefit limitations.
  • Clears your loan balance allowing you to start fresh with a new vehicle purchase, and gives you $1,000 towards the purcahse of a new vehicle if the auto loan is through Hutchinson Credit Union.
  • Affordable cost of $299, which can be included in your monthly payment.
  • Full refund if cancelled within the first 60 days.


What Does GAP NOT Cover?

  • Any refundable additions to the loan amount; such as Service Contracts and Other Insurance
  • More than 2 delinquent payments
  • Late charges, fees, extensions or other money added after loan inception
  • Any portion of the loan, at loan inception, that exceeded 150% of MSRP (new vehicles) or 150% of NADA average retail book value (used vehicles) for the Standard Program. For the Non-Standard Program, any portion of the loan, at loan inception, that exceeded 135% of MSRP or NADA average retail book value
  • Interest accrued after the date of loss


What Does GAP Cost?

At Hutchinson Credit Union we feel that GAP insurance should be an affordable option to everyone when purchasing a vehicle. That's why we priced our GAP Insurace at only $299. 


To see our Gap Insurance quick reference brochure, Click Here 

To see our Gap Insurance frequently asked questions, Click Here