Gap Insurance


Protecting the Value

Protecting your car in today's auto market can be a frustrating process, and if not done correctly, can result in major financial losses for you. You have to understand that insurance companies only pay what your car is worth, and in the event of an accident, will be a difference, or GAP, between what you owe and what your car is worth. There are ways you can protect yourself and your investment.

What is GAP protection?
In the event your car is stolen or totaled, your insurance company will pay only what your car is worth - not what you owe. If you owe more than the total loss settlement, you have a GAP! GAP protection covers what your insurance company will not cover.

Why GAPS occur...
All new cars lose value rapidly at first. As the years pass, the value continues to fall, but at a slower rate. This is shown by the green area in the chart on this page. The outstanding balance of the loan or lease goes down very little at first. With time, the balance owed goes down at an increasing rate. As you see, there is quite a GAP between the Actual Value and the Loan Balance.

Why you need GAP protection.
If you have a total loss of your vehicle, your insurance company will pay your car actual value - not the total loan balance! This will almost always be less than what you owe. The Alliance Gap Protection program will pay the difference between what the insurance company pays and your loan balance, AND will even pay your deductible.

How can I get GAP protection?
We can include GAP protection with your new vehicle. We can even add GAP protection for vehicles you already have. Just talk to a Loan Officer at the Credit League.

Gap Insurance Chart


Insurance and Warranty products are not products of the Credit League; and are not obligations of or guaranteed by the Credit League. Insurance or warranties may be purchased from an agent or an insurance company of the Member’s choice; and Credit League makes no representations as to the services of any provider.

Current Rates
As Low As
Auto (New)
Auto (Used)

Contact Us
P.O. Box 3137
Thomasville, GA 31799
Sign Up