Loan & Auto Protection

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Purchasing a new vehicle is a major expenditure for most people, and Provident Credit Union offers additional coverage beyond just standard auto insurance. Make sure you have all your bases covered with these options for supplemental protection that extend your insurance, extend your warranty, and ensure your vehicle or personal loan payments will be made. Click on the headings below for more information:

Guaranteed Auto Protection (GAP) 

Driving your new vehicle is like taking a leap of faith. If your car is stolen or declared a total loss following an accident, your insurance will only cover the vehicle's value at the time of the accident. Guaranteed Auto Protection (GAP) helps to close that gap. This amount could be thousands of dollars. GAP offers protection from total loss or unrecovered theft. It pays all or a portion of the remaining balance due on your loan or lease beyond what your automobile insurance will pay. With GAP, you are covered for the entire term of your loan or lease. A separate cash payment is not necessary--simply add the cost of GAP (pennies per day) to your automobile loan/lease.

Mechanical Breakdown Insurance 

You've worked long and hard to have the car of your dreams. Let us help you protect your vehicle with Mechanical Breakdown Insurance. MBI provides valuable protection against expensive repair bills at less than the cost of a dealer warranty or direct dealer service contract. You save with MBI because our cost is often times half of what a dealer will charge for the similar coverage. There are three plans available, which are determined by the year, make, and mileage of the vehicle. All plans come with free roadside benefits and a 60 day money back guarantee. The three plans are:

Easy Street

Easy Street is available for vehicles 2006 and newer with under 85,000 miles and comparable to a factory warranty. Coverage terms range from 12 months/12,000 miles to 8 years/100,000 miles.

Main Street

Covers the cost of repair for the stated components of parts of engine, transmission, drive axle, seals and gaskets, air conditioning, front suspension, steering, brakes, cooling, fuel delivery, electrical, and battery. Coverage terms range from 12/12,000 to 48/48,000, and miles are added to current mileage.

First Street

Covers the cost of repairs for the stated components of parts of engine, transmission, drive axle assembly, seals and gaskets, and 50% on cooling and electrical. Coverage terms range from 24/24,000 to 36/36,000, and miles are added to current mileage.

Credit Protection 

Credit Protection can help you avoid the risk of delinquency, default, repossession, or damage to your credit rating should you become ill or injured. Tying protection directly to your loan means you'll have exactly the right amount of protection, no more, no less, and that saves you money!

Credit Protection is a voluntary debt cancellation product that, depending on the package you select, cancels your eligible loan payment or balance up to the agreement maximum should you be faced with an unexpected life event.

You may choose from 3 product packages:

  1. Plan A: This plan protects both borrowers for Disability and Involuntary Unemployment.
  2. Plan B: This plan protects both borrowers for Loss of Life, Terminal Condition, and Disability.
  3. Plan C: This plan protects both borrowers for Loss of Life and Terminal Condition.

Interested?

These products are available when you are approved for an eligible Provident Credit Union loan. You can also ask us to add them to an existing vehicle or Provident loan, by visiting a branch or contacting us by phone at (800) 632-4600, option 3.