When you buy a new auto and drive it off the lot, it decreases in value immensely. What if it is damaged in the first year or two? Did you know that the “book” value also know as Actual Cash Value of the auto is often a lot less than what it would cost to give you another auto just like it due to this quick depreciation? This problem can be fixed by adding Loan Lease Security coverage on your auto policy. Ask about this important endorsement.