Safeguard customers with

financial loss and incident protection

Financial Loss Protection safeguards customers from unexpected curve balls such as a motor vehicle accident that’s deemed a write-off, or a minor accident that leaves a damage record on the vehicle’s title. Leaving the applicant in a negative equity situation because their insurance provider will not cover the amount owing on the vehicle. Our Financial Loss and Incident Protection (FLIP) Membership program enables applicants to access benefits that can be used to purchase a replacement vehicle or cover their negative equity at the time of trade-in, providing the financial loss protection they are looking for.

Don't get burnt

Automotive financial loss coverage when the primary payout falls short

This unique F&I product offers exclusive membership benefits to customers when they are looking for additional protection to safeguard their finances. Here are some examples of how our automotive financial loss coverage payout can protect your customer from a negative equity situation.
Outstanding Loan Amount
Less: Insurance Settlement
Negative Equity
In-Store Member Credit*

*Maximum In-Store Member Credit up to $15,000

negative equity member credit on new purchase
Outstanding Loan Amount
Less: Insurance Settlement
Negative Equity
In-Store Member Credit*

*Maximum In-Store Member Credit up to $35,000

financial loss benefit on trade-in + new purchase
Outstanding Loan Amount
Less: Insurance Settlement
Negative Equity (Trade-In Vehicle)
Negative Equity (New Purchase)
In-Store Member Credit*

*Maximum In-Store Member Credit up to $50,000

More features

Additional negative equity coverage with rv incident loss protection

Drive with Confidence

AUTOMOTIVE incident protection COVERAGE

If unexpected events happen to the customer’s vehicle – like an accident and the vehicle is repaired, the customer could end up with a damage record on their vehicle’s history report. In most cases, the vehicle will be worth less than it was before the accident due to the damage caused, leaving the customer with a financial loss at time of trade-in.

This Membership Benefit gives the customer access to funds that can be used at the time they purchase or lease their next vehicle at the original selling dealer.

The exclusive Member Benefits in our Incident Protection membership include:

original vehicle value maximum in-store member credit
Up to $25,000
$25,001 - $50,000
$50,001 - $75,000
$75,000 above

More features

ADDITIONAL negative equity coverage with rv incident loss protection

Available for new, leased and pre-owned vehicles

Coverage available for up to 96 months

Available for loans up to $150,000

Options to cover up to $2,500, $5,000, $7,500 and $10,000

Benefits to help protect you against accelerated depreciation

For full COVERAGE details, please refer to the terms and conditions

Commonly asked questions


What is Guaranteed Asset Protection (GAP)? How does FLIP compare?

Guaranteed Asset Protection (GAP) Insurance may help fill the gap between what the applicant’s vehicle insurance will be liable to pay and what the applicant owes on their loan if their vehicle has been deemed a total loss after an appraisal.

Our Financial Loss and Incident Protection (FLIP) membership program helps the customer cover unexpected costs if their vehicle was deemed a total loss by their insurance company or they are in an accident that leaves a damaged record on the vehicle’s title. Think of it like additional financial loss and incident protection for negative equity coverage above and beyond GAP.

How does GAP Insurance work? Does FLIP do the same?

GAP Insurance protection is an annulment or renunciation of the applicant’s remaining loan balance with their credit union or bank.

Our Financial loss and Incident protection will work in addition to any payout the applicant will receive from comprehensive coverage through their auto insurance. Think of it like supplemental financial loss coverage if your car is damaged, totalled or stolen and not recovered.

What does GAP Insurance cover? Does FLIP cover the same?

Most new and/or used vehicles that are being financed or leased can be covered by GAP insurance. Our FLIP Program covers most new and/or used vehicles that are being financed or leased by one of our Members.

What is not covered by the FLIP Program

Our FLIP Program does not cover the applicant’s wages due to financial hardship, job loss, disability or death. See our Job Loss Membership for more details as certain circumstances are covered by this type of financial loss.
Repairs to the applicant’s vehicle are not covered by the FLIP program. Please see more about our Road Hazard program or our Warranty programs for more information.

Our FLIP program does not cover the value of the applicant’s vehicle or the balance on a loan if their vehicle is repossessed.
The FLIP program does not cover the cost of a rental vehicle if the applicant’s vehicle is being repaired.

How does the FLIP Program work with depreciation?

Vehicles commonly lose 10% of their value the day customers drive their new pride and joy home for the first time, and they’ll lose an additional 10% of their value in the first year of ownership. In most situations, the applicant’s insurance company will only pay what a vehicle is appraised to be worth at the time of loss. If the applicant owes more money on the loan or lease than the vehicle’s estimated worth, our FLIP Program will cover the difference for the applicant at the time of a total loss.

Is FLIP Protection really needed?

If the applicant has purchased a vehicle with a tendency to depreciate quickly, or they have taken on a vehicle loan or lease in which the amount owed is more than the vehicle is worth, they should invest in financial loss coverage with our FLIP Program for protection in the event of a total loss.

Imagine through no fault of your own, your vehicle is stolen and not recovered. Your insurer payout leaves you with a $15,000 balance payable (often which becomes a demand loan because of the lack of security) and you have no vehicle! This puts you/your customer in a highly precarious situation and can lead to serious financial ramifications to their credit and financial future.

How does someone apply for the FLIP Program?

To get Financial Loss and Incident Protection, the applicant can apply for the program in a number of different ways at the point of sale when purchasing their vehicle.

FLIP protection can be purchased at the dealership with a one-time, lump-sum payment, or have the cost of the program rolled into their loan or lease payments for the vehicle.

Including FLIP payments into the applicant’s vehicle loan or lease spreads your payments out over time rather than paying one big sum upfront. This can be beneficial for some customer’s financial needs. It is important to note that if Financial Loss coverage is added to the applicant’s loan, they will also be paying interest on the FLIP Program.

FLIP protection is entirely refundable within the first 30 days. After that, it is dependent upon the terms of the applicant’s agreement or policy.