In the event of a total loss what will your insurer pay out for your bike?
Will you still be paying off a loan for a bike that you no longer have?
Will you be able to get a new loan for another bike?
SCENARIO:
Your insurance company determines your bike is worth $10000 at time of total loss and you are still owing $15000 on your finance.
Gap protection will pay the additional $5000 to payout your loan.