What causes the GAP?

This is a relatively new phenomenon and is actually caused by fierce competition. With more offers of low-down or no-down payments when buying or leasing a vehicle, you have little or no initial equity in the vehicle. After the vehicle is purchased, the value decreases substantially. Unfortunately, the vehicle's value may be less than what you owe on your loan. Hence the "gap."

Surprise. Auto insurance doesn't pay it all.

You are liable for this "gap" in your coverage. A gap that could cost you thousands of dollars. Most people worry about getting a scratch on their new car. Imagine how you'd feel if all of a sudden your pride and joy - your brand new car - was a total wreck, and you had to pay $10,000 out of your own pocket - over and above what your insurance pays. How would you feel? Think about it. Then think about this.

Who pays the difference? You do.

The question is not can you afford GAP insurance, but can you afford not to have GAP insurance?

What do you have to lose?

Should you decide to "gamble" with your vehicle, you may remove the GAP endorsement at anytime. You will only be charged for the time the GAP endorsement is on your policy.

Don't put it off. Ask your local American National Agent for a GAP application now. It's a very small price to pay for this much peace of mind.