• In the first year of ownership, one in every 110 new car purchasers will end up with a total loss vehicle.
• One in three Americans suffers the total loss of a vehicle at some point during their lifetime.
• One of nineteen drivers will have a total loss of a new car (under two years old) due to collision.
• One in every twenty drivers will experience an unrecovered theft.
• 50% of the time the Auto Insurance Company will not pay enough to satisfy the loan or lease balance on the totaled cars.

Guaranteed Auto Protection, or "GAP", offers protection against financial liability for individuals who lease or finance a new or used vehicle.

During the first few years, the lease or loan balance can be higher than the actual value of the car. As the car’s value declines, the lease or loan balance remains significantly higher.

Should a leased or financed vehicle be stolen or damaged beyond repair, you assume the primary insurance will pay the balance owed on the leased or financed vehicle. Suddenly you find there is a "gap" between the primary insurance company settlement and the actual net payoff of the vehicle, which could result in an out of pocket expense.