Loan Insurance

Protect your investment

With Beehive’s insurance products, you can rest easy knowing your investment is safe.

Features

  • GAP insurance
  • Credit Life
  • Credit Disability

Guaranteed Asset Protection (GAP)

Most cars depreciate by thousands of dollars as soon as they are purchased. If the car is stolen, accidentally damaged beyond repair, or otherwise declared a total loss, you are still liable to pay the difference between what you owe on the loan and the insurance settlement. GAP helps protect that difference.

Did you know:

The cost of GAP can be financed or refinanced with your vehicle loan. GAP is designed to cancel the difference between the actual cash value of your vehicle estimated by your insurance company and the unpaid loan balance, according to the terms and maximums of your GAP Waiver Agreement.

GAP may cancel the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle.

GAP can save you from making loan payments on a car, truck, or other vehicle that’s beyond repair or stolen and not recovered.

Credit Life & Disability

Credit Life and Credit Disability are voluntary insurance products designed to pay the loan balance off up to policy maximums in event of death or make the loan payments up to policy maximums if you are disabled. Maximum life protection is $50,000 per loan. Life coverage ends at age 70. The maximum monthly disability benefit is $850. Disability coverage ends at age 66. Credit Life & Disability insurance helps protect your loved ones and is simple to elect.

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