Guaranteed Asset Protection Insurance (GAP)
Add GAP insurance to your vehicle loan and ease the worry of being "upside-down". Being "upside-down" means that the market value of your vehicle is less than what you owe. Most auto buyers are "upside-down" at some point in the life of their loan. Plus, in the event of an accident, an auto insurance company may not want to pay you what you owe on the vehicle.
Take the opportunity to protect yourself with People's Trust GAP insurance. GAP will cover the difference between your loan balance and its value in the event of a total loss, up to $50,000. GAP can be purchased to cover motor vehicles, motorcycles, RV's, and watercraft.
GAP insurance can be purchased at loan closing or at a later date during the life of the loan. Ask your People's Trust Member Consultant about cost and payment methods.
*Restrictions apply to protected loan value, loan term, and vehicle type.
Have a Question?
Contact us online, give us a call at 713.428.3200 / 800.321.2411, or stop by a service center location for any questions about our financial services.
