Most people who purchase a car through financing will end up being “upside-down” on the loan at some point–that means that they owe more than the car is worth. If they get in an accident and total their car, they may have to pay back the difference from what the insurance company paid (actual cash value) and the remaining balance on the loan. Loan/Lease Payoff coverage is often added by endorsement to your auto insurance, and is designed to protect going upside-down on a loan. Contact Kraft Insurance Services to learn more about GAP insurance.