HOW THE GAP CAN HELP
Vehicle Loan Balance:
$28,000
Insurance Settlement:
-$23,500
Remaining Balance (The GAP)
$4,500
GAP coverage can help you pay the difference so you are not paying out of pocket.
What Is GAP Coverage?
If your vehicle is totaled or stolen, your insurance company may only pay the current market value of the vehicle, not what you still owe on your loan. GAP coverage helps cover the difference so you’re not left paying out of pocket for a vehicle you no longer have.
Why our members choose GAP.
Protection After Total Loss
Helps reduce unexpected out-of-pocket loan balances after accidents or theft.
Added Piece of Mind
Drive confidently knowing your loan may be protected beyond standard insurance coverage.
Guaranteed Auto Protection
If a replacement Vehicle is purchased within three months we will pay $500 to member upon proof of replacement vehicle.
Frequently Asked Questions
Not always. Most insurance policies only pay the current market value of your vehicle after a total loss, which may be less than what you still owe on your loan. GAP coverage helps cover the difference.
If your vehicle is declared a total loss or is stolen and not recovered, your insurance company may issue a settlement based on the vehicle’s value. GAP coverage may help reduce or eliminate the remaining loan balance left behind.
No. GAP coverage is optional, but many members choose it for added financial protection and peace of mind, especially on newer vehicles or loans with smaller down payments.
Yes. Members enrolled in GAP through TCP may also receive Auto Deductible Reimbursement benefits up to $500 per covered loss.
These are clean, readable, and actually sound human. FAQ sections should feel reassuring, not like they were extracted from a 47-page underwriting manual written during the Bush administration.