Help borrowers stay in the driver’s seat

Protect borrowers from financial loss and get them back on the road with Securian Financial’s vehicle protection policies.

Options for borrowers

Guaranteed Asset Protection (GAP)

GAP protects against financial loss in the event a borrower’s vehicle is totaled or stolen. Since insurance settlements are based on the car’s actual cash value, they are often less than the loan balance. This creates a deficiency balance, or “gap” that could jeopardize repayment.

If the insurance company declares a covered vehicle a total loss, GAP will waive:

• The difference between the actual cash value of the vehicle and the balance owed on the loan¹
• Up to $1,000 of your borrower’s insurance deductible as part of the loan deficiency balance²

GAP advantage includes everything in GAP, along with an additional $1,000 toward the amount of a new loan. This option is in place if the borrower chooses to finance the purchase of a new vehicle with the financial institution where the original loan was held.

Protect the equity in a vehicle if it is totaled or stolen during the life of the loan. The waiver benefit is equal to the difference between J.D. Power retail value at time of the waiver purchase, less the amount of the loan balance at time of total loss, capped by both a policy limit and the loan balance at the time.

Protect consumers for the costs related to the repairs of covered product components not otherwise covered by an underlying warranty.