Loan & Asset Protection

Guaranteed Asset Protection (GAP)

What is GAP?

Guaranteed Asset Protection is more commonly referred to as GAP. In the event that your vehicle is stolen or involved in a major accident and determined to be a “total loss,” GAP covers the difference between a vehicle’s current depreciated value and the amount you still owe on your loan.

Why do I need GAP?

  • Most insurance policies only cover the value of your vehicle. This is referred to as the “cash value” or “actual cash value” of your vehicle.
  • The value of vehicles rapidly declines within the first few years of ownership; therefore, your auto loan or lease balance could be higher than the value of your vehicle.
  • GAP provides coverage for new or used vehicles, including automobiles, motorcycles, boats, travel trailers, jet skis, and more.
Mechanical Repair Coverage

You depend on your car, but big unexpected repairs can happen after your factory warranty expires. Mechanical Repair Coverage (MRC) can help you limit the cost of covered breakdowns. You pay only the applicable deductible, if any. MRC can help lighten the financial burden for you and the people you care about. Get MRC today so you can worry a little less about tomorrow.

To research, compare and buy Mechanical Repair Coverage, call one of our CAMPUS Representatives where you can take advantage of:

  • Convenience - easy-to-use, 24/7 online shopping experience
  • Member service - expert service through a dedicated call center
  • Monthly payments - through a convenient monthly payment plan that fits your budget


Mechanical Repair Coverage is provided and administered by Consumer Program Administrators, Inc. in all states except CA, where coverage is offered as insurance by Virginia Surety Company, Inc., in WA, where coverage is provided by National Product Care Company and administered by Consumer Program Administrators, Inc., in FL, LA and OK, where coverage is provided and administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023 and Oklahoma License #44198051), all located at 175 West Jackson Blvd., Chicago Illinois 60604, 800.752.6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In CA, where Mechanical Repair Coverage is offered as insurance (form MBIP 08/16), it is underwritten by Virginia Surety Company, Inc. Coverage varies by state. Be sure to read the Vehicle Service Contract or the Insurance Policy, which will explain the exact terms, conditions, and exclusions of this voluntary product. MRC-2341946.1-1218-0121 © CUNA Mutual Group 2018

Payment Protection

What is Payment Protection?

Payment Protection cancels your loan balance or payments up to the contract maximums. Protect your loan payments today so you can worry less about tomorrow.

Do I need Payment Protection?

Purchasing Payment Protection is voluntary and won’t affect your loan approval. It’s simple to apply. Ask your loan officer about eligibility, conditions, or exclusions.1  

Protecting your loan payments against life’s unexpected events could help protect your finances. Payment Protection applies in the event of…

  • Death – it cancels your payments or loan balance.2
  • Disability – it cancels your loan payments.2
  • Involuntary Unemployment – it cancels your loan payments.2


1. Please contact your loan representative or refer to the Member Agreement for a full explanation of the terms of Payment Protection with Life. You may cancel the protection at any time. If you cancel protection within 30 days of initiating coverage, you will receive a full refund of any fee paid. 2. Cancellation of payments or loan balance are limited to the contract maximums.

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