If your leased car is stolen or totaled in an accident, your agreement will be considered an early involuntary termination. Your insurance company will only pay the fair market value of your car which is usually the wholesale value. Unfortunately, the wholesale value can be much less than the payoff. Customers can protect themselves from losses through GAP insurance. Offered by almost all auto manufacturers’ captive finance companies and some independent leasing companies, it provides insurance to cover the gap between what you owe and the actual cash value of your car. It is almost always free. If it is not, consult your insurance agent.