GAP Coverage

GAP Insurance: What is it?

Rivermark provides a GAP insurance add-on feature for members to buy when they get a car. GAP Insurance is one of the most important add-on features car buyers can have!  If the car is totaled or stolen, your insurance company might not pay off the entire loan balance. That is because the value of your car can be less than what you owe. You could be stuck with the rest of the bill!

The good news is that GAP insurance helps pay the “gap” between what you owe on the car and how much it is worth.

And best of all, you already qualify! GAP Insurance would waive the difference between your insurance settlement and your loan, provide $1,000 towards a new vehicle if you finance it with us, and give you a free gift with our Auto Deductible Reimbursement (ADR) benefit - Just one deductible claim would pay for your GAP protection!

• Up to $1,000 of insurance deductible covered*
• $1,000 credit towards the Rivermark financing of a replacement vehicle
• Low cost protection
• Eliminates the out-of-pocket expense for the remaining loan balance after loss settlement
• Helps the borrower avoid financial hardship and afford a replacement vehicle
• Prevents deficiency balance from being added to new loan
• Helps protect the borrower’s credit rating
• 60 day free look

GAP Advantage protection can be added to any vehicle loan for a low, flat, one-time premium. Premiums start at $524. We can even incorporate the price into your loan balance.