GAP Advantage Coverage


Webster First Federal Credit Union is pleased to offer our members the option of 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 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.


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.



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
  • GAP Advantage prevents, in almost all cases, a loan balance when a car is totaled or stolen
  • GAP Advantage includes Auto Deductible Reimbursement, which could help cover your auto deductible up to $500 in the even of a loss



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.



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 coverage will also cover up to $1,000 of the borrower's insurance deductible if there is a "gap" after the insurance settlement is paid. It is covered as part of the deficiency balance and is not paid directly to the borrower, but towards the balance of the loan.



Want to apply for an Auto Loan? Let's get started!

Applications for auto loans are available online, at one of our local branches, or by phone. If you'd like to apply by phone or speak with a member service representative for more information, call us at (800) 962-4452.

Apply Now

Already a member? Log in to Online Banking and click "Apply for a Loan" to get started.