Guaranteed Auto Protection

Two-car collision in front of house

Because stuff happens.

If you totaled your car today, would you have to continue making payments on it? It’s entirely possible! Insurance would cover a lot, but most likely not all of the loan amount because of dramatic depreciation on new and late model automobiles. Unfortunately, this scenario happens a lot when there is a car accident, and it leaves people “upside down,” or owing more on their car than it is worth.

Guaranteed Auto Protection (GAP) kicks in when the amount your insurer would pay for your totaled or stolen car is less than what you still owe on the loan (minus any delinquent payments, late charges, refundable service warranty contracts or other insurance-related charges). Not only does GAP cover the remainder of your loan balance, it will also give you $1,000 toward a new car financed at Linn Area Credit Union within 90 days of the accident. GAP also covers your insurance deductible.*

We usually recommend GAP in any of the following instances:

  • You’re financing for more than 4 years (48 months)
  • You’re purchasing a car and not putting at least 20% down
  • You are rolling debt from your last auto loan into your current auto loan

You can add GAP to an existing car loan or you can get it at the same time you get your loan. We’ve had many members sing the praises of Guaranteed Auto Protection!


*The maximum deductible reimbursement is $500 per instance. Deductible reimbursement is only available during the first two years of coverage.

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