Your Peace of Mind
Loan Protections that Help Safeguard You and Your Family
Loan protection gives you a financial safety net when life doesn’t go as planned. If you face a covered event – like involuntary job loss, disability, or a serious illness – it can help cover your loan payments so you’re not juggling unexpected hardship and financial stress at the same time. It’s a simple, voluntary way to protect your budget, maintain your credit, and keep your long term goals on track, all with the reassurance that you won’t have to manage tough moments alone.
GAP, or Guaranteed Asset Protection, is designed to protect you from a financial setback if your vehicle is ever totaled or stolen. Even with full insurance coverage, you could still owe more on your loan than your insurer will pay – especially early in the loan term or if your vehicle depreciates quickly. GAP helps by waiving all or part of the difference between what you still owe on your auto loan and the vehicle’s actual cash value, up to a set loan to value maximum, minus any exclusions or limitations that may apply. This voluntary, non insurance product can be added when you open your loan or anytime afterward, giving you flexible, reliable protection when you’re ready for extra peace of mind. It’s a simple, trustworthy way to safeguard your budget and avoid unexpected debt during an already stressful situation.
How does GAP work?
The actual cash value of your vehicle as determined by your primary insurance carrier could be less than the actual balance you owe on your loan. In the event of a total loss or theft, GAP waives the difference between your outstanding loan balance and the actual cash value of the vehicle up to the maximum LTV %.* GAP may also cover up to $1,000 of your deductible if there is a “gap” after the primary insurance settlement is paid. The deductible is covered as part of the deficiency balance settlement.
Your loan balance is: $15,000 Your insurance company settlement is: $10,000
- Based on your vehicle's market value: $11,000
- Less your insurance deductible: $1,000
Loan balance remaining without protection: $5,000
Loan balance remaining with protections: $0
Auto Advantage and Auto Deductible Reimbursement (ADR)
When you purchase GAP from Redstone, you also receive Auto Advantage, which includes ADR, Personal ID Restoration Consulting and Warranty Vault at no additional cost. You may be reimbursed for your deductible for any loss covered by the borrower’s auto insurance policy for all their non-commercial passenger cars, trucks, or vans.
ADR Requirements:
- All vehicles are covered that are owned (according to title, registration, or loan documents) and insured by the primary borrower and/or co-borrower.
- Only four-wheel, non-commercial passenger vehicles (cars, trucks, vans) are covered. ADR does not cover motorcycles, boats, and RVs.
- You can file a claim if the amount covered by your main auto insurance is more than your deductible. The claim must already be approved and paid by your main auto insurance. This includes collision and comprehensive claims, and the vehicle must be repaired.
Personal ID Restoration Consulting
Assists you in recovering your name and rightful credit history if you become a victim of fraud or identity theft. Call center consultants will guide you through completing the necessary forms and submitting them to the appropriate parties.
Warranty Vault™
Provides a single, central registration service that allows you to take full advantage of your warranties while you are a member of the Auto Advantage Programs.
GAP products are offered through third-party insurance companies, are not Redstone Federal Credit Union® products, and are not NCUA or federally insured. These products are not obligations of Redstone Federal Credit Union and are not endorsed or recommended by RFCU or any government agency. RFCU does not warrant, guarantee, or insure any service or product offered by any third-party insurance company. RFCU and third party insurance companies are separate entities.
*Deductible coverage is available in most, but not all states. Please consult your financing representative for the availability of this benefit. For a complete list of terms and conditions, see the GAP Waiver Addendum. The purchase of GAP is voluntary and cannot be required as a condition of loan approval. Whether or not you purchase GAP will not affect your application for credit or the terms of any existing credit agreement you have with us. GAP is a loan/lease deficiency waiver and is not offered as insurance coverage. Applies only to collateral financed by RFCU. A fee applies Please contact RFCU at 800-234-1234 for information.
Mechanical Breakdown Protection (MBP) gives you confidence that you won’t be caught off guard by expensive repair bills as your vehicle ages. It helps cover the cost of major mechanical failures beyond your factory warranty, so you can keep your car on the road without draining your savings. MBP is designed to be straightforward and reliable, offering different coverage levels to match your driving habits and budget. With benefits like roadside assistance, rental reimbursement, and protection against unexpected breakdowns, it’s a practical way to safeguard both your vehicle and your wallet while enjoying greater peace of mind every time you drive.
Every MBP Warranty includes:
- $0 deductible on labor and covered parts
- 30-day money-back guarantee
- 24/7 emergency road service
- Nationwide coverage
- Transferable coverage if you sell your car
- Rental vehicle assistance
Extended Warranty is provided by Route 66 and is not an insurance product. For a complete list of terms and provisions, see the Service Agreement available at any branch. The purchase of an Extended Warranty is voluntary and is not required as a condition of loan approval. Enrollment fees apply.
Extended warranty product is offered through a third-party company, is not Redstone Federal Credit Union® product, and is not NCUA or federally insured. This product is not an obligation of Redstone Federal Credit Union and is not endorsed, recommended, or guaranteed by RFCU or any government agency. RFCU does not warrant, guarantee, or insure any service or product offered by any third-party insurance company. RFCU and third-party insurance company are separate entities.
Debt protection gives you a practical way to safeguard your loan or credit card payments when life takes an unexpected turn. Staying on top of monthly payments is important, but events like disability, involuntary unemployment, or even death can make it difficult – or impossible – to keep up. With Death, Disability, and Involuntary Unemployment coverage from Allied Solutions, a Redstone partner, your loan payments may be waived during a covered event, ensuring your family isn’t left with the burden of major debts or your estate isn’t strained.
Redstone’s debt protection programs can be added at any time, not just when you first open the loan. This voluntary protection can be added when you open your loan or at any point later, giving you flexible, reliable support whenever you’re ready for extra peace of mind.
Debt Protection
Helps cancel or waive loan or credit card payments if you experience a covered event such as death, disability, or involuntary unemployment.
Credit Disability Protection
Makes your loan payments if you become disabled and unable to work due to a covered illness or injury. This keeps your loan in good standing and protects your credit while you focus on recovery.
Credit Life Protection
Pays off or reduces your remaining loan balance if you pass away during the term of the loan. This ensures your family or estate isn’t left responsible for the debt, easing the financial burden on loved ones.
Need to file a Debt Protection Claim? HERE'S HOW >>
Insurance products are offered through third-party insurance companies, are not Redstone Federal Credit Union® products, and are not NCUA or federally insured. These products are not obligations of Redstone Federal Credit Union and are not endorsed, recommended, or guaranteed by RFCU or any government agency. RFCU does not warrant, guarantee, and insure any service or product offered by any third-party insurance company. RFCU and third party insurance companies are separate entities.
Credit Disability only available to the primary borrower of RFCU credit card or loan. Credit Life is available to either the primary borrower or both borrowers of RFCU credit card or loan.