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GAP Insurance

We know things happen — and we'll be here for U when they do.

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Have U ever wondered what GAP Insurance is? GAP stands for Guaranteed Asset Protection and pays the difference between what you owe on your loan and what your insurance company pays out. It fills the gap! (Get it?)

If your vehicle is stolen or totaled, you’ve already had a tough day. You don’t want to find out you’re underwater on your auto loan, too. Luckily, GAP Insurance can help turn your frown upside down!

More ways UMe GAP insurance coverage can keep U afloat

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Pay less on your next loan

GAP Insurance may cancel up to $2,500 of your next loan with us when you purchase a replacement vehicle.* 

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Flexible ways to cover the fee

UMe credit union’s GAP Insurance fee can be included with your monthly car payments or you can buy it separately.

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90 days to change your mind

Maybe you’re not sure if GAP is a good idea (It is!). Simply cancel within the 90-day trial period and get a full refund.

What to know about GAP Insurance in California

For all our lovely members in Burbank, California, UMe is here to be your friendly local GAP Insurance provider. If the worst happens and your car is totaled or stolen, we can pay the difference between your insurance settlement and the balance on your auto loan. 

This means you won’t owe money on a loan when you no longer have a car. Of course, we hope you never need to use your GAP but at least it’s there just in case.

UMe offers GAP Insurance on used cars and new cars. Our GAP insurance coverage includes up to $500 deductible reimbursement twice a year.

Plus, if your GAP-covered vehicle is totaled, and you finance a replacement vehicle with UMe, you can get a $2,500 deposit into your UMe account!*

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I’ve been banking here for a while, and I have nothing but good things to say.

— M. Pierre, Burbank, CA

How to fill your car insurance GAP

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Apply Online

Join UMe and sign up for all the products and services you want, including credit union GAP Insurance.

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Agree on the Details

We’ll take a look at your auto loan (with UMe or another lender) and you can decide how you want to pay your GAP fee.

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Enjoy Peace of Mind

Drive around town with a smile on your face knowing you have financial protection if your car is totaled or stolen.

Why choose UMe as your GAP Insurance provider?

At UMe, our customers are members, which means you own part of UMe. We’re a not-for-profit so we can give you higher savings rates, better auto loan rates, and lower fees on tools like GAP Insurance. Plus, you get to enjoy friendly local service from our qualified professionals. But that’s not all. 

As well as offering our members the best financial tools and tips you need to succeed, we do our best to support our community in every way we can. We strive to help everyone in Burbank thrive and flourish — not just survive and scrape by.

Check out these fun facts about what we gave back to Burbank in 2022: 

  • We provided $6,877 to the Burbank Unified School District in support.
  • We donated $7,448 to local community organizations, including Leadership Burbank, Kiwanis Club of Burbank, Family Service Agency of Burbank, and HomeAgain L.A.
  • We awarded $7,000 in scholarship funds to Burbank students through our UMe Super Awesome Scholarship and our UMe Marketing Intern Scholarship.
  • Our members helped raise $18,631 for the Burbank Arts & Education Foundation by making donations matched by UMe.

A few more reasons to choose UMe in case you’re sitting on the fence:

  • We know you’re more than just a number. This means you can count on us to support your financial needs. 
  • We love dogs. You can bring Bowser when you visit our branch and we’ll even have a snack ready.
  • We heart tech. That’s why our online and mobile banking lets you access your UMe accounts anytime.

Here’s a quick quiz to see if you can join us:

  1. Do you live in, work, worship, or belong to an organization in Burbank? You’re in.
  2. Do you go to school in Burbank? You’re welcome to join.
  3. Do you think UMe sounds awesome but you didn’t answer yes to 1 or 2? You can still become a member! Simply make a $10 donation to the Burbank Arts & Education Foundation and you’re good to go. We’ll even help you do it!


UMe Credit Union GAP Insurance FAQ

GAP stands for Guaranteed Asset Protection and pays the difference between what you owe and what your insurance company will pay — filling the gap!

When you purchase a vehicle, it depreciates the moment you drive it away. So, if your vehicle is stolen, or totaled in an accident, you could end up owing more than the vehicle is worth. GAP Insurance coverage is designed to pay the difference between the insurance settlement and the loan balance, so you don’t owe money for a vehicle you no longer have.

To make things super simple and stress-free, we will make sure you get all the extra info you need before you start paying for any GAP insurance coverage. Plus, you can cancel GAP at any time. If you cancel your GAP within 90 days, you can get a full refund.

Sure you can! You can get GAP Insurance for just about any vehicle. A good way to think about it is that if you can get an auto loan to buy your car, then you can probably also get GAP. It’s especially useful for new cars because they lose a big chunk of value the moment you turn the key.

A bit like milk and bread, the cost of GAP Insurance coverage can go up and down depending on where you buy it. For example, you might pay about $500 to $700 if you choose to pay upfront at a car dealership.

A better option is to include GAP in your monthly car payment. That way, it will be less than $10 a month and you’ll keep more dollars in your wallet.

Yes, your local credit union is a great choice to be your GAP Insurance provider and UMe makes it super duper easy to purchase GAP insurance in California! You can apply online 24/7, visit us, or give us a call at (818) 238-2900.

UMe has all of your vehicle financing needs covered. All you need to do is fuel up and you’re set!

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*In order to qualify for the $2,500, you must purchase a replacement vehicle with UMe within 120 days from the insurance check issuance date.