What is Automobile Loss Protection (GAP)?

If a vehicle is totaled or stolen, your primary insurance company settlement can be significantly less than the outstanding loan balance. This may create a deficiency loan balance or a “gap” resulting in financial hardship. GAP coverage is designed to relieve you of the remainder of the loan balance not covered by your primary insurance carrier.

What does GAP cover?

GAP covers the difference between your outstanding loan balance and the actual cash value of the vehicle (primary insurance company settlement) less exclusions.

GAP Advantage Benefit

You may also be eligible to receive an additional $1,000 benefit if you finance a replacement vehicle with Deseret First within 90 days of the total loss. This benefit is applied toward the balance of your new loan.

Member Benefits

  • Covers up to $500 of your deductible up to two times ($1,000 total)
  • Additional $1,000 to help with a replacement vehicle purchase if financed with Deseret First.
  • Eliminates the out-of-pocket expense for the remaining loan balance after loss settlement.
  • Helps you avoid financial hardship and afford a replacement vehicle.
  • Prevents deficiency from being added to a new loan.
  • Helps protect your credit rating.
  • Low cost protection with a full refund within 60 days.
  • GAP fee can be added to your loan.
  • GAP can be added to a loan at any time.

For questions, to apply, or file a claim, call 801-456-7000 or 1-800-326-3328 weekdays: 8am-7pm, Sat: 9am-2pm or visit any Deseret First Branch.


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