GAP

Guaranteed Asset Protection (GAP) with Auto Deductible Reimbursement (ADR) protects your vehicle loan from the unexpected. What would you do if your vehicle was totaled or stolen and never recovered? While your auto insurance may cover some of the costs, you’re responsible for paying any difference between what your insurance will pay for and what you owe on your loan. GAP is designed to help protect the difference between your insurance settlement and your auto loan balance in case your auto is totaled by an accident or stolen.

Plus, with the added benefit of Auto Deductible Reimbursement, you’ll receive up to $500 towards your insurance deductible if your vehicle is in an accident and requires repairs. Simply put, this policy pays (up to $500) your deductible so you don’t have to.

You Get:

  • Protection for your new and used vehicle, rv, motorcycle, snowmobile, personal watercraft and boats
  • Easy sign up when you apply for your loan
  • GAP fee added to your loan
  • Available on new and used vehicles and rvs. GAP Plus may allow you to put up to $1,000 toward the purchase of your next loan if you finance with Heartland within 120 days of your primary insurance settlement.
  • Full refund if you cancel within 90 days
  • Auto Deductible Reimbursement – allows you to receive up to $500 towards your insurance deductible if your vehicle is in an accident and requires repairs.

Calculate your loan to value ratio to see if GAP is right for you. Or call a Heartland Loan Officer or Financial Service Officer at (651) 451-5160 or (800) 813-9185 to learn more.

*Your purchase of MEMBER’S CHOICE Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the GAP Waiver Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP. You may cancel the protection at any time. If you cancel protection within 90 days you will receive a full refund of any fee paid. You will receive additional information before you are required to pay the fee for this product. GAP-1274005.1-0815-0917