GapinsuranceisatypeofautoinsurancethatcarownerscanbuytoprotectthemselvesagainstlossesthatcanarisewhentheamountofcompensationreceivedfromatotallossdoesnotfullycovertheamounttheinsuredowesonthevehiclesfinancingorleaseagreementThissituationariseswhenthebalanceowedonacarloanisgreaterthanthebookvalueofthevehicle