Safeguard customers with

financial loss Membership protection

In a total loss scenario, an accident that is considered a write-off or an unrecovered theft may leave your customers with debt on a vehicle that they no longer own. The Financial Loss Membership program allows your customers to be protected against this negative equity they may have incurred.

This Protection Program gives your customers access to In-Store Member Credits, which can be used towards the purchase of a replacement vehicle, providing them with the security they are looking for.

*Note: This Protection Product is not available in British Columbia at this time.

Don't get burnt

Automotive financial loss membership coverage when the primary insurer payout falls short

This unique F&I product offers exclusive membership benefits to customers, giving them additional protection to safeguard their finances. Below is an example of how our automotive Financial Loss Membership can protect your customerin a negative equity situation. 

negative equity in-store member credit
Outstanding Loan Amount
Less: Insurance Settlement
Negative Equity
In-Store Member Credit*

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

More features

ADDITIONAL negative equity coverage with financial loss membership protection

Available for new, leased and pre-owned vehicles

Coverage available for up to 96 months

Available for loans up to $100,000

Program offers
up to $50,000 of in-store
Member Credits

Up to $1,000 on Deductible Reimbursement + $500 of Member Bonus Credit.

Pay-out based on
amount financed
(see the table above)​

Commonly asked questions


What is Guaranteed Asset Protection (GAP)? How does Financial Loss Membership 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 Membership program helps the customer cover unexpected losses through In-Store Member Credits at their original selling dealer. Think of it like additional financial loss protection for negative equity coverage if their vehicle is deemed a total loss by their insurance company. 

How does GAP Insurance work? Does Financial Loss Membership 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 program 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 Financial Loss Membership cover the same?

Most new and/or used vehicles that are being financed or leased can be covered by GAP insurance. Our Financial Loss Membership Program covers most new and/or used vehicles that are being financed or leased by one of your customers.

What is not covered by the Financial Loss Membership Program?

  • Our Financial Loss Membership 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 Financial Loss Membership program. Please see more about our Road Hazard program or our Warranty programs for more information.
  • The Financial Loss Membership program does not cover the value of the applicant’s vehicle or the balance on a loan if their vehicle is repossessed or the cost of a rental vehicle if the applicant’s vehicle is being repaired.

How does someone apply for the Financial Loss Membership Program?

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

Financial Loss Membership 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 Financial Loss Membership 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 Membership’s coverage is added to the applicant’s loan, they will also be paying interest on the Financial Loss Membership program.

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