Guaranteed Asset Protection (GAP)-The financial protection when you may need it most

In the event your vehicle is stolen or damaged and deemed a total loss, the amount owed on your loan may be more than your auto insurance settlement. Southland’s GAP insurance protects you by paying the difference (or “gap”), which could cost thousands of dollars out of your pocket.

*Maximum GAP claim paid up to $50,000. Gap is a loan deficiency waiver and is not offered as insurance coverage.
  • One-time fee of only $350
  • Coverage on loans up to $100,000*
  • All-risk physical damage coverage
  • Pays up to 125% of manufacturer suggested retail pricing for new autos or 125% of average retail book value on used autos
  • Pays up to $1,000 deductible
  • $1,000 towards new vehicle purchase with Southland CU
  • Covers new/used autos, vans, motorcycles, jet skis, snowmobiles, and pickups (up to one ton capacity)
  • Option to cancel coverage within 60 days for a full refund