GAP (Guaranteed Auto Protection) insurance protects against financial loss in the event that your vehicle is damaged beyond repair (totaled) or stolen and never recovered. Oftentimes the amount you owe on the car is more than the value of your car, which is all the insurance company will cover.
GAP covers the difference between the market value of your vehicle and the loan/lease balance, less delinquent payments, late charges, refundable service warranty contracts and other insurance related charges. In the event a deficiency exists, our program will cover your insurance deductible up to $1,000.