Driving a new car off the dealership lot is an exciting milestone. However, the moment your tires hit the pavement, your vehicle begins to depreciate. Within the first year alone, a new car can lose 20% or more of its value. If your vehicle is stolen or totaled in an accident, standard auto insurance might not cover everything you owe. That is where Guaranteed Asset Protection (GAP) insurance comes in. What Is GAP Insurance? GAP insurance is an optional car insurance endorsement or standalone policy designed to protect drivers from financial loss when their vehicle is totaled or stolen. Standard collision and comprehensive auto policies only pay out the actual…