Routing # 321076470

Guaranteed Asset Protection (GAP) Plus

Low-cost protection if your car is stolen or an accident occurs

Guaranteed Asset Protection (GAP) Plus

A wrecked vehicle can wreck your finances if you owe more on your loan than your insurance will pay. The second you drive your new vehicle off the lot, it drops in value, which creates a gap in coverage.

Our Guaranteed Asset Protection (GAP)1 program can help cushion you and your family against sudden out-of-pocket expenses and goes beyond traditional protection.

Here’s how it works: GAP Plus may reduce or eliminate the gap between what your vehicle insurance will pay and what you owe on your loan if your vehicle is deemed a total loss. Plus, it helps you get into your next vehicle by reducing your next loan at the credit union.

Deductible Assistance is additional protection to provide financial relief when your vehicle is damaged, but not deemed a total loss. If repairs cost more than your deductible, the deductible amount is applied to your loan, reducing what you owe.

Key Features

Reliable Coverage

Maximum benefit up to $50,000

Flexible Protection

Enroll any time during your loan’s term

Affordable Cost

Only $595, which can be rolled into your auto loan, giving you one easy payment

Deductible Assistance

Additional protection provides financial relief when your vehicle is damaged, but not deemed a total loss

Frequently Asked Questions

  • GAP insurance can reduce or eliminate the “gap” between what your vehicle insurance will pay and how much you owe on your loan if your vehicle is deemed a total loss.

    Deductible Assistance provides financial relief when your vehicle is damaged but not deemed a total loss. If repairs cost more than your deductible, the deductible amount is applied to your loan to reduce what you owe.

    Coverage depends on many variables. When added to your loan at origination, GAP coverage may be less than $10 per month, and can be rolled into your loan payment. Simply schedule a Zoom appointment or visit one of our local branches to learn more about GAP.

The easy and secure way to manage your finances

Patelco Online™ helps you stay up to date on all your finances, including your loans. We make it simple and safe to:

  • Check balances and get account details
  • Make payments from your Patelco account
  • Transfer funds and send secure messages about your loan

Coverage for the unexpected

Patelco offers insurance solutions2 for every stage of life, so no matter where you or your family are at, we’ve got you covered. Learn more about how you can help protect yourself and those you love.

    Patelco helps you get ready for the unexpected with our Patelco Protection Plans. We know that life can come at you in the most unexpected ways; that’s why we offer protection plans to help you be financially prepared for anything that comes along. Are you ready for the expected?
    What if there’s an injury and you’re unable to work? Will your current coverage be enough? Or in the event of your unexpected death, will your family be able to keep up with everyday expenses and debt?
    It is possible to plan for the unexpected with our loan and payment protection plan that cancels your loan payments or balance, up to the contract maximums, if you suffer a covered unemployment, disability or pass away.
    But what if other unexpected expenses come along? Can you cover the gap?
    For example, getting a new vehicle is exciting, but it starts losing value the second you drive it off the lot. And if it gets wrecked or stolen you could owe more than your insurance will pay, and that gap could be thousands of dollars.
    For a one-time cost of $595, Guaranteed Asset Protection, or GAP Plus, can help reduce that gap and put you back where you belong – behind the wheel. It can be financed as part of your loan. This averages out to just over $8 per month over the course of a 5 year loan, giving you protection and can help provide you peace of mind.
    But what happens when those big repair bills come along?
    Mechanical Breakdown Insurance (MBI) can help make big repair bills a lot smaller. Just choose a plan and deductible to help reduce your out-of-pocket expenses on covered repairs and get additional benefits like roadside assistance, rental and travel expense reimbursement, and more. So when life throws you an unexpected curve – you can be covered.
    Ask a team member for a quote or learn more at

1 Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP), which includes deductible assistance, is optional and will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days, you will receive a full refund of any fee paid. MRC-3628239.1-0621-0723, GAP-3628235.1-0621, DP-3628229.1-0621-0723

2 Insurance products are not deposits of Patelco Credit Union and are not insured by the NCUA. They are not guaranteed by Patelco Credit Union and may be subject to risk. Any insurance required as a condition of an extension of credit by Patelco Credit Union need not be purchased from Patelco Insurance Services and may be purchased from an agent or an insurance company of the member’s choice. Patelco Insurance Services is a subsidiary of Patelco Credit Union. Insurance products are offered by Patelco Insurance Services, a California insurance agency (License #0C97544). Any complaints may be filed with the California Department of Insurance,

All statements made are subject to provisions, exclusions, conditions, and limitations of the applicable insurance policy. Coverages and features are not available in all states. Eligibility is subject to meeting applicable underwriting criteria. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify. A consumer report from a consumer reporting agency and/or motor vehicle report will be obtained on all drivers listed on your policy where state laws and regulations allow. Please consult your policy for specific coverages and limitations.


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