In the event your vehicle is declared a total loss, your primary insurance carrier covers the value of the vehicle less your deductible, leaving you pay the remaining balance on the loan or lease.  GAP may waive the difference between the primary insurance settlement and outstanding balance on the vehicle as of the date of loss.  Without GAP protection you could be faced with the burden of paying off your loan on a vehicle you are no longer able to drive. GAP coverage is only available at the time a vehicle is purchased and is available for both new and used vehicles with loans up to 84 months.