Loan Protection Products
Car insurance is the first big decision in keeping your car protected, but it may not be the most important. In many cases, car insurance fails to cover the most important and unexpected expenses related to vehicle ownership and loss. For the most peace of mind when you buy a car, consider these options:
Guaranteed Asset Protection (GAP)
The value of a vehicle drops the moment it’s driven off a lot and this leaves a “gap” between how much your insurance company pays in an accident, and how much is owed on the car. If the thought of having to make car payments on a car you no longer own sounds awful, consider Guaranteed Asset Protection (GAP) to ensure you are protected if your car is totaled.
Major Mechanical Protection (MMP/MBI)
A major mechanical problem can cost thousands of dollars. Save yourself from unforeseen car repair costs with Major Mechanical Protection (MMP) / Mechanical Breakdown Insurance (MBI). You will be pleasantly surprised by the many “extras” that some policies have such as an Accident Deductible Reimbursement.
What happens to your debt in the event you are disabled, incapacitated, or even if you die? A debt cancellation policy protects your family by covering your consumer loans, not just your car, up to $75,000. A debt cancellation contract can act to supplement disability and life insurance for many people with consumer debt.
Are you interested in learning more about GAP, Major Mechanical, or Debt Protection? Give us a call at 800-553-3707.
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Logix Federal Credit Union and Logix Insurance Services, CA Insurance License Number 0D64827; Insurance products: Are not NCUA/NCUSIF insured; Are not obligations of Logix Federal Credit Union; Are not guaranteed by Logix Federal Credit Union.