Guaranteed Asset Protection (GAP)
Available from CNA National Warranty Corp.
Each year thousands of vehicles in the United States are declared total losses due to theft and accidents. Because auto insurance covers the vehicle's actual cash value at the time of loss, chances are the owner will end up owing the difference between the insurance settlement and the amount due to the lender or leasing company. Add in a deductible and the total could easily add up to thousands of dollars. Car buyers can protect their investment by choosing GAP coverage that helps pay the difference.