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Mechanical Breakdown Insurance and GAP*
Insurance is always an important step in buying a car, truck or SUV. This is why San Francisco Federal Credit Union provides several options to help protect yourself and your investment.
Mechanical Breakdown Insurance
Mechanical Breakdown Insurance (MBI) is similar to the service contracts offered by auto dealers. The coverage may be essentially the same. MBI, however, is an insurance policy/certificate issued by the insurance company, giving purchasers the protection and security only an insurance company can provide. Even with this protection, MBI can be less expensive.

The benefits of MBI include:

  Coverage for new and used vehicles with up to 100,000 miles
  Service can be performed by ANY licensed or administrator approved repair facility in the U.S. or     Canada
  Coverage purchase may be added to your vehicle loan.
  Claims may be paid through the administrator's VISA account
  Coverage for Towing/Road Service, Rental, Tire Service, Lost Key/Lockout and Trip Interruption
  Transferable to other vehicles
  Seal and Gaskets are covered on components listed for your new or previously owned vehicle
  Covered components, which fail under normal service, or wear beyond the field tolerances     allowed by the manufacturer, will be repaired or replaced
  Excellent protection against the cost of covered repairs - one claim could easily pay for the     entire cost of the coverage

Certain exclusions apply. If you would like to purchase Mechanical Breakdown Insurance or if you have any questions, please feel free to contact us at contacts@sanfranciscofcu.com or at (415) 775-5377 option 4.

Guaranteed Asset Protection (GAP)**
You could lose more than your vehicle if it is stolen or involved in a major accident. You could lose your investment.

Now you can protect yourself and your vehicle with Guaranteed Asset Protection (GAP). If your vehicle ever becomes "totaled", or is stolen and not recovered, GAP Advantage pays your loan or lease balance and an additional $1,000 toward the purchase of a replacement vehicle when you finance through San Francisco Federal Credit Union.

*These programs are fully underwritten Hibernia Mitchell Insurance Services, Inc. an independently owned and operated insurance agency. They are one of the largest insurance companies in the U.S. with over 60 years of experience.

**GAP is a non-insurance product and is made available via a loan/lease deficiency waiver that covers the gap between the vehicle value and the amount you still owe. Essentially, GAP protects you and your entire investment from substantial loss. Certain exclusions apply.

If you would like to purchase GAP Insurance or if you have any questions, please feel free to contact us at contacts@sanfranciscofcu.com or at (415) 775-5377 option 4.

 

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