American 1’s GAP more affordable

Jessee Frey-Cochrane

People say good things come in threes, but Jessee Frey-Cochrane found out that bad luck can come in twos.

In the span of one year, Jessee had to use American 1’s Guaranteed Asset Protection (GAP) twice on different vehicles.

In August 2006, Jessee’s “summer vehicle,” a 1995 Pontiac Bonneville in great condition, suffered from a sunroof seal leak and was wrecked by mold damage. Her insurance company ruled the damage as a total loss. The next year, in April 2007, her 2004 Ford Freestar caught fire after an electronic harness defect, leading to another ruined vehicle.

Thanks to her GAP coverage, the difference between what Jessee owed on her vehicles and what the insurance company offered her in settlement disappeared.

“It really paid for itself,” Jessee, an American 1 member since 1998, says, “especially after I used the $1,000 GAP Advantage towards my next vehicle.”

Jessee, a Grass Lake resident, knew about GAP coverage as a licensed insurance agent, and shopped around for the best deal. She didn’t find it at a typical dealership, where the GAP price is based on the vehicle’s cost – and can be double or triple the price.

“American 1’s GAP was a flat rate,” she says. “So now I tell people to go to a local credit union – it’s cheaper than the dealership.”

It could just be bad luck that two of her vehicles were totaled within a year. American 1’s GAP coverage, however, helped Jessee balance the score.

“I won’t purchase a vehicle without GAP ever,” she says.

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