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GAP Advantage

If you have suffered a total loss of a vehicle, GAP Advantage coverage can help.

Important GAP Advantage information

GAP Insurance covers the gap between your vehicle's value and what you owe. Refer to your sales contract for details.

  • Coverage for primary borrowers only.

  • GAP pays off insurance deficiency if balance is over $1,000 and up to 125% of vehicle's value.

  • Limited time to file GAP claim after total loss date; if not filed promptly, GAP may not pay.

  • Any vehicle leased or owned by the primary borrower and insured under the Member's auto policy is covered, regardless of the driver or the cause of loss.

  • GAP usually doesn't cover totaled vehicles if the driver was under the influence.

  • GAP Advantage may provide $2,500 towards a new loan for replacement financing.

  • Total Loss Claim can take weeks to finalize; payments during this time are still the borrower's responsibility.

  • Loss is defined as an event where an insurance company approves and pays a claim exceeding the covered auto deductible for a collision or comprehensive claim.

  • Coverage begins at enrollment's GAP date and lasts for five (5) years, even if the loan is settled early or the Member no longer owns the vehicle.

Filing a GAP Advantage claim

If you have any questions, Member Care is here to assist you at (800) 839-1154.

How to file if you financed directly through TDECU

How to file if you financed directly through TDECU

  1. Following a vehicle total loss, file a claim with your car insurance first.

  2. Contact TDECU to initiate GAP coverage.

  3. Email SWBC GAP claims at or call (866) 270-3672 Ext. 1, to start the process.


How to file if you financed with TDECU through a dealership

How to file if you financed with TDECU through a dealership

  1. After a vehicle total loss, file with your car insurance first.

  2. Email TDECU for GAP Insurance Claim status. For document assistance, visit a branch, call (800) 839-1154, or email.

  3. Contact GAP using the policy details in your dealership contracts. Standard documents required by GAP are listed below.

Standard documents required by GAP

Document NeededDescription of DocumentWho to Contact
Color Photos Color photos of the damage Insurance
Insurance Company Settlement Statement/BreakdownOn insurance company letterhead with adjuster name and telephone number. Includes date of loss, cause of loss, miles at date of loss, Actual Cash Value, applicable taxes and tag fees, deductible amount and final settlement figure.Insurance
Insurance Company Settlement Evaluation/ValuationFull insurance evaluation report showing how the insurance company determined the Actual Cash Value of the vehicle. Must include any options on the vehicle and mileage at the date of loss.Insurance
Insurance Company Settlement CheckPhotocopy or draft copy of the Insurance Company check(s).TDECU
Complete Payment History Record and Payoff StatementHistory of all transactions occurring since inception of loan. Includes payoff as well as a statement from the lienholder showing detailed payoff with per diem interest.TDECU
Police Report or Cause of LossFull, official Police Report or "Cause of Loss" letter from insurance company stating that a police report was not filed and an explanation regarding the cause of loss.Insurance
GAP ContractPhotocopy of GAP Loan/Lease deficiency waiver addendum (front and back).TDECU
Loan/Lease Finance AgreementPhotocopy of front of loan contract or lease agreement. Includes mileage at date of purchase.TDECU
Buyer's Order/ Purchase OrderPhotocopy of front of buyer's order/purchase orderTDECU
MSRP (new vehicles only)Manufacturer's suggested retail price located on the window sticker and the invoice.TDECU
Proof of Refund Amount or Expiration of any Cancelable Items If a refund: Copy of the contract and check copy or statement of dollar amount of refund on dealer letterhead. If Expired: Copy of contract and substantiation of vehicle mileage (mileage expiration).TDECU
Declaration PageThe front page (or pages) of a policy that specifies the named insured, address, policy period, location of premises, policy limits, and other key information that varies from insured to insured. Insurance