Here’s what you need to know about the protection plans available at OE Federal Credit Union.
Guaranteed Asset Protection (GAP)
What is GAP insurance?
GAP is an insurance add-on that pays the difference between the depreciated value you still owe on your ride if it’s stolen or totaled. In plain English, it’s coverage for that “gap” between your car’s real value (as determined by your insurance company) and your auto loan balance.
How much does GAP cost?
The price of GAP, on average, is between $500 to $700. At OE Federal, it’s below $400 and we suggest adding it directly to your auto loan payment.
Is GAP for everyone?
GAP is recommended for drivers who are, or likely to be, upside down on their auto loans. No, this doesn’t involve a trapeze; it just means the drivers owe more for their car than what it is actually worth.
Debt protection is a a loan-payment protection product designed to help you get relief from loan payments if you suddenly find yourself caught up in a protected life event.
How much does debt protection cost?
The cost of debt protection can vary based on your amount of debt being protected. We suggest giving us a call at 800.877.444 to discuss.
Is debt protection for everyone?
Debt protection is a must-have for anyone with a loan. If a protected life event happens to you (or the co-borrower on the loan), debt protection will cancel or waive your loan payments up to the member agreement maximums, taking the financial pressure of you and your family.
Auto & Home insurance provides financial protection for your vehicle and home in the event of accidents, theft, damage, or liability claims.
How Much Does Auto & Home Insurance Cost?
The cost of Auto & Home insurance varies based on factors like your location, coverage level, deductible, and driving history. Typically standard home insurance costs
$125 to $200 per month and auto insurances ranges from $50 to $200 a month.
Is Auto & Home Insurance for Everyone?
If you own a vehicle or a home, Auto & Home insurance is essential. It safeguards your valuable assets and provides peace of mind.
You are leaving OE Federal Credit Union's website and linking to an alternate website not operated by the credit union. The credit union is not responsible for the content of the alternate website and does not represent either the third party or the member if the two enter into a transaction. The privacy and security practices of the alternative site may differ from those practiced by the credit union. You should review the privacy policy of any site before providing any information.
Please note, when you exit our site our Privacy Policy is no longer in effect.
Thank you for visiting. Please return when you need information about OE Federal's products and services.
