GAP (Guaranteed Asset Protection) Cover

If you've used finance to purchase a vehicle, it makes sense to add GAP cover to your comprehensive vehicle insurance.

As soon as you buy a vehicle from a caryard its value depreciates. GAP cover will protect you if your vehicle is written off or stolen and the standard insurance payout is less than the amount still owing on your loan.

You don't want to be left paying off a loan for a vehicle you no longer have!

There are 3 different levels of cover available:

  • Basic: covers the shortfall up to $10,000
  • Silver: covers the shortfall up to $10,000, plus an additional $1,000
  • Gold: covers the shortfall up to $10,000, plus an additional $2,500

You simply pay a one-off premium when the policy starts and cover lasts for up to 5 years.

To learn about the cover benefits in full, including conditions and exclusions, read our GAP Policy.

If you are financing your vehicle with First Credit Union, ask us about GAP cover and how the premium can be included in your vehicle loan.


Simply contact us if you have any questions, we're here to help.


GAP Cover is underwritten by Co-op Insurance NZ.
Co-op Insurance NZ is the trading name of Credit Union Insurance Limited, an insurer licensed by The Reserve Bank of New Zealand under the Insurance (Prudential Supervision) Act 2010.