Automotive Protective Services
Protect Your Vehicle Investment with GAP Insurance
You could lose more than your vehicle if it’s stolen or involved in a major accident. You could lose your investment. Because most insurance policies only cover the Actual Cash Value of your vehicle - something that rapidly declines during the first few years of ownership - your loan balance could be higher than what your insurance company will pay in the case of a claim. For just $385 for the life of the loan, you could be protected.
What Does GAP Insurance Cover?
GAP Insurance covers the difference between your primary carrier insurance settlement and the payoff of your loan on the date of the loss. Included in this coverage is your insurance deductible up to $1,000. GAP Insurance also pays an additional $1,000 towards the purchase of a replacement vehicle when financed through UMassFive College Federal Credit Union.
Extended Auto Warranties
Any make or model is qualified for one of our three levels of warranty protection, at any age or mileage. Why pay a large sum for service at just one dealership when you could get a competitively priced policy covering repairs at any licensed facility, nationwide? We've shopped around so you don't have to. UMassFive's extended warranties are offered through Route 66, a company that has been in the warranty business for almost 25 years with an excellent reputation.
All three coverage options include no deductibles, 24/7 roadside assistance, and a rental car allowance for repairs requiring more than 4 hours to complete. Route 66 is also the only warranty company in the nation to cover battery replacements (available with the Easy Street and Main Street packages). When you bring your vehicle to a licensed repair facility, they'll be paid directly by corporate credit card from Route 66 - there's no need for you to pay upfront or wait for reimbursement.
Easy Street is our best package, most comparable to the full warranty you would purchase at a dealership. So many parts are covered, we simply can't list them all! Parts that aren't covered include fluids, filters, tires, glass and paint (listed in full on the warranty contract).
First Street is basic drivetrain coverage for any vehicle. No matter how old your clunker or the mileage on your odometer, any vehicle qualifies for this peace of mind option.
Main Street is a great value. You get all the drivetrain coverage of the First Street program above, plus coverage of certain parts of the air conditioning, steering, brakes, cooling, electrical, and fuel delivery systems.
Complete terms and provisions are contained within each Service Agreement. Please read the Service Agreement for complete details.
Credit Life and Credit Disability
UMassFive offers MEMBER'S CHOICE® Credit Life and Credit Disability Insurance to our members to help cover them when help is needed most. This coverage comes from CUNA Mutual, which is an insurance company formed through the Credit Union National Association, the premier national trade association serving credit unions.
Help cover your loans with Credit Life and Credit Disability Insurance. Credit Life Insurance helps reduce or pay off your loan if you or a co-borrower (depending on who enrolled in coverage) dies before the loan is repaid. Credit Disability Insurance will help make monthly loan payments to UMassFive if your income is suddenly lost due to a covered accident or illness resulting in total disability. Each claim event will be reviewed on its own merits. Refer to your policy for the list of exclusions, limitations, and maximums.
Underwritten by CUNA Mutual.
For questions or assistance, contact a friendly UMassFive representative today!