keeping you covered

GAP/ADR

Protect your purchase with Guaranteed Asset Protection (GAP) / Auto Deductible Reimbursement (ADR) coverage and drive with peace of mind.

  • Typically your auto insurance covers the replacement value of your vehicle, however, in many cases there can be a GAP between this number and what is actually owed on your vehicle. GAP also covers your deductible on your insurance policy up to $1000.00.
  • GAP protection covers you when you have a total loss on your vehicle and your automobile insurance does not pay off the entire balance remaining on your loan. Your GAP protection kicks in and covers the difference to protect you from having to pay the difference yourself.
  • ADR covers payment of your accident deductible up to $500.00, unlimited times per year. The ADR covers accidents where there is not a total loss however the cost to fix the damage sustained in the accident exceeds your auto policy deductible. The ADR covers your loan for the first 48 months and the GAP will cover the full term of the loan up to 84 months. The ADR when purchased with your auto loan also covers any other vehicles that are registered in your name.
  • Cost of GAP/ADR is $549.00 per loan.

Mechanical Breakdown Insurance

Most car repairs occur after the manufacturer’s warranty has expired. Don’t be caught off guard and have to pay a costly repair bill. Purchase an IWS -Intercontinental Warranty Vehicle Service Agreement when you close your loan and protect yourself from costly repairs and enjoy the following benefits:

  • 60 Money Back Guarantee
  • Low or no Deductible
  • Transferable coverage which increases your resale value
  • Towing and Car Rental coverage
  • Travel Expenses and Roadside Assistance
  • A .25% discount on your loan with a warranty purchase

Life and Disability Payment Protection

Protect your loans with the Credit Union against unanticipated financial hardships that could easily put your dreams and lifestyle in jeopardy.

  • Credit Life Insurance is available on consumer and home equity loans and will pay off the loan when a covered life event occurs
    • Total per member benefit maximum with Credit Life is $50,000.00
    • Termination age for life is 72 years of age
    • Maximum loan term is 120 months
    • Insurance charges will be added to your loan balance each month and will be subject to finance charges at the interest rate applicable to the loan balance
  • Disability Insurance is available on consumer and home equity loans and will make your monthly payments when you cannot make them yourself
    • Maximum monthly disability benefit is $900.00 per month
    • Maximum age for disability is 72
    • Maximum loan term is 120 months
    • View the details regarding payment protection on your loan

For more details, please contact your Credit Union Representative.