Gap Coverage

Hero Image

Fill in the Gaps

Gap coverage is optional, and it covers the difference between what you owe on your vehicle loan and the actual cash value (ACV) of your vehicle in the event it’s totaled in an accident. This difference is referred to as the “gap”.

At a scene lookout location in the mountains, a young couple tying shoes under the white SUV's liftgate.

Do You Need Gap Coverage?

When it makes sense to consider gap coverage:

The short answer is — when the actual value of your car is less than your loan.

Here’s an example: Let’s say you paid $30,000 for a new car and got in an accident a few years later where your car is considered a total loss. As you may know, cars lose value somewhat quickly. The market value on your car is now $15,000, but you still owe $20,000 on the loan. The $5,000 “gap” is money you’d still owe your lender. Gap coverage would pay for or help cover that difference for you.

When you don’t need gap coverage:

If you own your automobile outright or the vehicle is worth more than you owe, either through a loan or a lease, gap coverage is not necessary.

Get Your Customized Quote

Photo of the Marshall Family and their $143 Profit Payout

Profit Payout

As a not-for-profit credit union, we return our profit to those who bank with us in many ways—like better rates, lower fees and our Profit Payout1. This year we gave back a record-breaking $9 million to our members. See how having insurance with us could help you grow your share.
Estimate Your Payout

Female gardener holding a sapling with soil.

Green Insurance Agency

The CommunityAmerica Insurance Agency is committed to operating a sustainable, green business. To do our part in our community, we also contribute to a number of local environmentally friendly organizations.   
Get the Scoop

Member Favorites

Car Icon

Auto Loan

We put you in the driver’s seat. It’s time to find your next dream ride, at a great low rate.
Learn More
Car Emblem on Defense Shield Icon

Auto Insurance

Cruise with confidence knowing your ride is covered. We can help you find the right policy.
Learn More
Check with Pen Icon

Cashback Free Checking

Earn 1% cash back on the first $500 of monthly purchases2.

Learn More

Insurance products may be sold through CommunityAmerica Insurance Agency, LLC, a wholly owned subsidiary of CommunityAmerica CUSO One, LLC and a licensed insurance agency in Missouri and Kansas. Insurance products:

Are Not Federally Insured

Involve Investment Risk

May Lose Value

Are Not Obligations or Guaranteed by the Credit Union