Loan Coverage

We have amazing protection plans that are affordable and can be added to your loan product which include, Debt Protection, GAP, Mechanical Breakdown Protection and Multi-Shield Protection.

Debt Protection

Life is unpredictable.  Take the worry out of unexpected life events that could happen during the term of your loan.  Protecting your loan with Debt Protection means all or a portion of your loan balance or monthly payment may be canceled/waived in the event of your death, total disability, involuntary job loss, or employer-approved family leave. 

Guaranteed Asset Protection (GAP)*

Don’t be left paying for a vehicle you no longer own, protect it with GAP.  GAP helps cover the remaining balance of your loan balance if you experience a total loss or your vehicle is stolen before the loan is paid in full. Most insurance companies only cover the ACV (actual cash value) minus the deductible. As a result, there can be a substantial “GAP” between your loan balance and the amount your insurance company will pay to replace your vehicle. GAP settles the difference between what your primary insurance settlement and your remaining loan balance at the time of loss. 

With our GAP program, you automatically receive a GAP+ benefit. If you experience a total loss and you use GAP that was purchase through the Credit Union, they will give you $1,000 towards your next purchase if you finance your next vehicle with Texas Plains Federal.

Mechanical Breakdown Protection (Warranty)*

Your vehicle is an investment and adding a warranty on your vehicle, you will have peace of mind knowing your investment is protected. With a full complement of affordable coverage options, our Mechanical Breakdown Protection is an ideal solution to protect your investment and reduce out-of-pocket expenses should a mechanical breakdown occurs.  The vast majority of costly mechanical and electric failures occur AFTER the factory warranty has expired. Avoid expensive repairs by protecting your vehicle with a Mechanical Breakdown Protection plan.  Repairs can be performed at any licensed repair facility in the US or Canada.  All claims are handled directly by the insurer with direct payments to the repair facility. 

There are additional coverage benefits that come with your Mechanical Breakdown Protection plan that include: roadside assistance, rental vehicle assistance, tire road hazard and trip interruption.

We have four levels of coverage, which are affordable options to ensure your vehicle is protected against costly repairs.

  • Platinum
  • Gold
  • Silver
  • Copper

For claims call 844-307-1001.

Multi-Shield Protection*

Multi-Shield is a complete vehicle protection program for those daily mishaps that occur with our members vehicles.  The program consists of Tire & Wheel, Dent and Door Dings, Windshield Repair and 24/7 Roadside Assistance.

*Receive a rate discount for adding the protection plan.