GAP Protection

What is Guaranteed Auto Protection?

Guaranteed Auto Protection (GAP) offers protection against financial liability when you finance a new or used vehicle. GAP protects against financial loss in the event that your vehicle is totaled or stolen. In today's automobile market, your vehicle begins to depreciate the minute it is purchased. Because of this, your vehicle's outstanding loan or lease balance is typically higher during the first few years of the loan or lease.

For example, when a vehicle is totaled or stolen, your insurance company's settlement is based on the actual cash value of the vehicle. Because of the way the claim is paid, the settlement can be significantly less than your remaining loan or lease balance. This may cause a "gap" resulting in a serious financial hardship for you.

What Vehicle Types are Eligible?

  • Automobiles
  • Motorcycles
  • Vans
  • Light Trucks

The following vehicle types are also eligible for coverage: personal watercraft, snowmobiles, ATV's, golf carts, pop-ups, and farm equipment.

Coverage may also be available for the following vehicle types (ask your lender): boats (up to $40,000), trucks, motor homes, trailer homes.

What does GAP cover?

Gap covers the difference between the market value of your vehicle and the loan or lease balance, less delinquent payments, late charges, refundable service warranties, and other insurance-related charges.

Gap may even reimburse you up to $1,000 of your insurance deductible. This valuable benefit is not available in all states - ask your Harvester Financial CU loan officer for complete details.

Loan Balance after one year = $15,000
Value of Car after one year = $10,000
Insurance Settlement = $10,000
Deficiency Balance = $5,000
GAP Pays = $5,000
Borrower owes = $0
Without Gap, you would be responsible for the $5,000 balance.

Borrower Benefits:

  • Eliminates out-of-pocket expense after settlement
  • Helps you avoid financial hardship
  • Helps you afford a replacement vehicle
  • Helps protect your credit rating
  • Up to $1,000 of your deductible reimbursed (not available in all states)

Don’t go unprotected - Get GAP!


This information is not a contract and does not contain all program details. Additional terms and exclusions may apply. See your Harvester Financial CU loan officer for complete details.
The purchase of GAP is voluntary, and not required to obtain credit. GAP is not offered as borrower collision, medical, or comprehensive insurance coverage.
Program Administered by Allied Solutions.

7020 Brookville Road
Indianapolis, IN 46239
PH: 317.352.0455
TF: 800.326.2279
FAX: 317.351.2351

Monday, Tuesday & Thursday:
8:00 a.m. – 5:00 p.m.

9:00 a.m. – 5:00 p.m.

8:00 a.m. – 5:30 p.m.

1220 Miller Avenue
Shelbyville, IN 46176
PH: 317.392.0811
TF: 800.366.5725
FAX: 317.392.0870

Monday, Tuesday & Thursday:
8:30 a.m. – 5:00 p.m.

9:00 a.m. – 5:00 p.m.

8:30 a.m. – 6:30 p.m.

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