Guaranteed Asset Protection Advantage (GAP Advantage) Coverage

If your vehicle is stolen or totaled in a major accident, your loss could add up to more than its value. Most insurance policies only cover the value of your vehicle at the time of loss, which means that the settlement you receive could be less than the amount you owe. GAP Advantage protects you by covering the “gap” between the vehicle’s value and the amount you still owe.

GAP Advantage offers you peace of mind

Reimburses up to 125% of MSRP or NADA Retail in the event of a totaled or stolen vehicle to pay the vehicle loan after insurance payment.

Allows for up to $1,000 towards the purchase of a replacement vehicle, if the replacement vehicle is financed with Webster First.

Prevents, in almost all cases, a loan balance when a car is totaled or stolen.

Includes Auto Deductible Reimbursement, which could help cover your auto deductible up to $500 in the event of a loss.

GAP Advantage FAQs

How does GAP Advantage work?

GAP Advantage protection goes into effect when you need it most – when your vehicle is stolen and isn’t recovered or totaled in an accident and can’t be repaired. GAP Advantage waives the difference between your primary insurance carrier’s settlement and the payoff of your loan, less delinquent payments, late charges, refundable service warranty contracts, and other insurance related charges.

GAP Advantage also includes Auto Deductible Reimbursement. If you suffer a loss during the coverage period that is covered by your auto policy, you may be entitled to reimbursement of your auto deductible up to $500 per loss. You are eligible for reimbursement when a claim is filed and paid by your carrier during the first 3 years of your loan term for the financed vehicle. In addition, all other vehicles you own and insure are covered as well.

What vehicles are eligible for GAP Advantage?

Any auto financed through Webster First is eligible to be covered by GAP Advantage. Commercial vehicles and trucks over 1 ton capacity are not eligible for GAP Advantage. In addition, some recreational vehicles, such as travel trailers and boats, are also not eligible.

How much does GAP Advantage cost and how do I purchase it?

GAP Advantage costs $349.00 and is provided through Allied Solutions. The cost can be paid as one lump sum, or it can be rolled into the total loan amount of your auto loan. You have up to 18 months into your loan to purchase GAP Advantage coverage.

GAP Advantage is provided through Allied Solutions and is not insured by NCUA or MSIC.