Download the one-page reference sheet — formatted for printing or sharing with your team.
Download PDF| # | Insurer | GAP? | Product Name | Deductible | Max Payout |
|---|---|---|---|---|---|
| 1 | State Farm | Alt. product | Payoff Protector (loan benefit) | No | Loan balance |
| 2 | Progressive | Offers GAP | Loan / Lease Payoff | No | 25% of ACV |
| 3 | GEICO | No GAP | — (not sold) | — | — |
| 4 | Allstate | Offers GAP | Loan / Lease GAP | No | Loan balance |
| 5 | USAA | Alt. product | Car Replacement Assist. | No | 20% over ACV |
| 6 | Farmers | Offers GAP | Residual Debt Coverage | No | 25% of ACV |
| 7 | Liberty Mutual | Offers GAP | Gap Coverage | No | Loan balance |
| 8 | Travelers | Offers GAP | Loan / Lease Gap | No | Loan balance |
| 9 | Nationwide | Offers GAP | Gap Coverage | No | Loan balance |
| 10 | American Family | Offers GAP | Loan or Lease Gap | No | Loan balance |
| 11 | AAA (Auto Club) | Alt. product | Loan / Lease Gap (agent) | No | Varies by club |
| 12 | Auto-Owners | Offers GAP | Auto Loan/Lease Coverage | No | Loan balance |
| 13 | Erie | Offers GAP | Auto Security (Lease/Loan) | No | Loan balance |
| 14 | Mercury | Offers GAP | Gap Insurance | No | Loan balance |
| 15 | Kemper | Offers GAP | Auto Loan/Lease Coverage | Enhanced pkg | Loan balance |
Where to Buy — The Dealership Advantage
Dealer — Pay Only for What You Use
Dealership GAP
Waives your deductible, pays off the loan, and adds no claim to your own carrier. Rolled into the payment — if GAP adds ~$15/mo and you total at month 3, you've spent just $45 for full protection. LTV ~125–150%.
Credit Union
Credit Union GAP
Deductible: some waive up to $1,000. LTV: capped 125–135%. One-time flat fee paid up front.
Insurer Add-On
Insurer GAP
Deductible: not covered. LTV: pays loan balance only. Files a claim on your policy.
What the Data Shows
- Dealer GAP waives the customer's deductible — up to $1,000 — while insurer GAP does not, leaving that cost out of pocket.
- Highest payout reach: dealer GAP covers up to ~150% LTV vs. 125–135% at credit unions; Progressive & Farmers cap payouts at just 25% of ACV.
- Fewer claims on the customer's own policy — the gap is settled through the GAP product, not their auto carrier, protecting their loss history and rate.
- Of the 15 largest carriers, GEICO offers no GAP and State Farm sells only Payoff Protector — a loan benefit, not insurance.
Sources: insurer coverage pages; NerdWallet, Heritage FCU & American 1 CU GAP disclosures. Rank: NAIC 2025. Logos are trademarks of their owners, for identification only. Terms vary by state. Prepared by Lloyd W. Trushel / F&IQ Training & Development.