Vehicle Protection Insurance

KSCFCU in cooperation with CUNA Mutual Group is proud to offer Vehicle Protection Insurance to our members. Guaranteed Asset Protection and Mechanical Repair Coverage are plans provided at a much more affordable rate than most dealers and other companies. Check with us first before committing to purchasing either of these plans:

Guaranteed Asset Protection (GAP)

MEMBER’S CHOICE Guaranteed Asset Protection (GAP) offered by CUNA Mutual Group is designed to protect against financial loss in the event your vehicle is stolen or declared a total loss due to an insured peril.
GAP pays the difference between the primary auto insurance carrier’s settlement and the Protected Balance.
The Protected Balance is the pay-off amount that is directly related to the purchase of the vehicle or the amount borrowed that is secured by the vehicle (subject to coverage limits).

Benefits of GAP:

Offers security from financial loss
Provides affordable coverage

Eligible Vehicles
• Motor Vehicles: private passenger cars, vans, and light trucks with loan amount up to $100,000
• Power sports: motorcycles, and personal watercraft with loan amount up to $100,000
• RV’s: covered up to $125,000
• Watercraft: loan amount to $50,000

Features of GAP
• Can be included in the amount financed with the loan, be added onto the loan, or paid in cash.
• The member can elect coverage by phone.
• Protection must be purchased within the first 60 days of acquiring the vehicle loan.
• Covers the owner’s primary insurance deductible up to $1,000 which results in
another reduced financial burden associated with a vehicle being stolen or totaled,
and is one more way in which GAP provides peace-of-mind.
• The member receives a full refund if canceled within the first 90 days. There is no cancellation fee.
• GAP will cover a deficiency due to the total loss of a motor vehicle, Power sport, Recreational Vehicle,
or Watercraft up to the policy limit of $50,000.
• The maximum loan term GAP will cover is 84 months (7 years).
Restrictive Conditions - GAP does not include:
• Any refundable additions to amount financed
• Interest accrued after Date of Loss
• Delinquent payments more than 30 days past due
• More than 6 skipped payments (Holiday or Summer)
• Late charges, fees or funds added after installment sales contract/loan/lease
inception (refinanced increases or add-ons)
• Primary insurance deductible in excess of $1,000
• Portion of installment sales contract/loan/lease that exceeds 125% of MSRP (new) and NADA (used)

Mechanical Repair Coverage (MRC)

MRC is automobile protection offered through CUNA Mutual that extends beyond the manufacturer’s factory warranty and covers repairs for unexpected mechanical and electrical breakdowns.

Benefits of MRC:

Saves money
Eliminates the high cost of future auto mechanical repairs
Provides for peace of mind and worry-free driving

Vehicle Eligibility
Coverage is available for any new or used vehicle current through ten model years old with 100,000 odometer miles or less at the time of coverage purchase.
Transfer of Coverage
• The plan allows for coverage to be transferred to a private party/owner within 30 days from the date of sale.
• If there is an original manufacturer’s warranty remaining on the vehicle, it must be transferable.
• Transfer fee is $30.

Three Levels of Coverage
Three types of plans are available for new or used vehicles.

Platinum This is the most comprehensive named exclusion level of coverage, which extends
protection for virtually all mechanical and electrical components of the vehicle unless the
part is specifically listed as “not covered”. The coverage is for vehicles with 70,000
odometer miles or less and current through ten model years old.

Gold This is considered a value-minded named component plan that includes coverage for ten
major component groups. The coverage is for vehicles with 90,000 odometer miles or less
and current through ten model years old.

Silver This is a basic named component plan that includes coverage for nine major
component groups. The coverage is for vehicles with 100,000 odometer miles or less
and current through ten model years old.

Plan Features
• Deductible Option per repair: Platinum & Gold $0, $50, $100, $250 /Silver $50, $100, $250
• 30 day “free look” period
• Thousands of nationwide authorized repair facilities from coast to coast in the US and Canada
• Transferable Coverage for a $30 fee
• Can cancel at any time on a pro rated basis
• Provides add-on term/add-on miles so the member gets all coverage purchased
• Coverage does not revert back to original vehicle in-service date.
• Bills the Administrator directly for covered repairs – member pays only applicable deductible
• Rental Reimbursement up to $30 per day for up to 10 days if car is out of service overnight
• 24-Hour Roadside Assistance and towing
• Covers emergency travel expense up to $500 if the car breaks down for more than 100
miles from home and the vehicle must be held overnight for repairs