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GAP Plus & MRCGAP and MRC Coverages

Relax and Enjoy Your New Vehicle Knowing It’s Fully Protected!

Give yourself peace of mind knowing you’re covered in case of an accident, theft, or basic wear and tear with MEMBERS CHOICE Guaranteed Asset Protection Plus (GAP Plus) and Mechanical Repair Coverage (MRC).

Guaranteed Asset Protection Plus*

Get GAP with Deductible Assistance and don't let a wrecked vehicle wreck your finances.

Guaranteed Asset Protection (GAP) is a great way to protect your finances if the value of your vehicle is less than the amount of your car loan. A good rule of thumb is to assume your new vehcle will lose on average 19% the first year you own it, half of which occurs immediately after taking possession.* This leaves a "gap" between what you owe on your loan and the value of your vehicle. In the event of a total loss due to an accident or theft, GAP is designed to cancel the difference between what you owe on your loan and the amount paid by your primary auto insurer. Now you also get Deductible Assistance with your purchase of GAP. Deductible Assistance is designed to cancel part of your debt when a comprehensive or collision claim is paid and a deductible is incurred. This means you'll have one less expense you may have to worry about if something happens to your vehicle. Call us today to learn more about how you can add GAP with Deductible Assistance to your vehicle loan.

*What  is the Average Car Depreciation Rate? John Diether, Cars Direct, May 23, 2016

GAP Plus Brochure

Mechanical Repair Coverage**

The miles can add up but the repair costs don't have to.

MEMBERS CHOICE™ Mechanical Repair Coverage can help deflect some risk of costly, future covered repairs keeping your vehicle running extra miles and extra years. With different coverage levels and deductibles to choose, there's a plan to fit your family's budget.

Whether you depend on your vehicle for work or getting your family to school and activities, you need transportation that's safe and reliable. The older your vehicle, the more it takes to keep it in good working order. Not making small repairs can lead to even more expensive repairs and ignoring other repairs can be dangerous.

Benefits of the program*:

  • Good at any authorized repair facility in the U.S. or Canada
  • Rental reimbursement: up to $35/day for 1-5 days (1-10 days for parts delay. Available on first day of covered repair.)
  • 24-hour emergency roadside assistance: up to $100 per use. Includes towing, battery jump start, fluid delivery, flat tire assistance and lock-out service.
  • Travel expense reimbursement: up to $200 per day 1-5 days for food, lodging and rental when a breakdown occurs more than 100 miles from home. (Not available to NY residents.)
  • Transferable: to increase resale value. Only if sold privately. Subject to transfer fee.
  • Cancelable: receive a full refund within the first 60 days or a pro-rated refund thereafter less an administrative fee.
  • No out of pocket expense at time of mechanical repair: (except for any deductible and any repairs not covered by the policy)-the covered repair is paid directly to the authorized repair facility.
  • Ask about deductible options

*Program details may vary by state. Ask a Loan Officer for details or receive a quote by calling 504.576.5800x2.

MRC Brochure

To add GAP Plus or MRC to your loan, contact one of our friendly Loan Officers by email or phone: 504.567.5800x2 or 800.586.4RCU(4728)x2.


* Your purchase of MEMBER CHOICE™ Guaranteed Asset Protection (GAP), which includes deductible assistance, is optional and will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days, you will receive a full refund of any fee paid. GAP purchased from state chartered credit unions in FL, GA, IA, RI, UT, VT, and WI, may be with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you choose a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee. GAP purchased from state chartered credit unions in CO, MO, or SC may be canceled at any time during the loan and receive a refund of the unearned fee.

GAP-1736930.1-0317-0419

** 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 FL, LA, and OK, where coverage is provided and administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023 and Oklahoma License #861338), 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. 

MRC-1613248.1-1016-1118 © CUNA Mutual Group 2016, All Rights Reserved.

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