Dust, heat, humidity and impact damage are primary causes of failure. Don’t drop your GPS unit, not even onto something soft like water–especially not onto something soft like water!
Wipe it down with a clean cloth before you put it away and, if your GPS receiver has openings like a data card slot or battery compartment, blow those clean with canned air–never your humid breath.
If you own a car GPS system, mount it out of direct sunlight. Even on cool days, the dashboard can get dangerously hot for electronics and excessive exposure to the sun’s radiation can damage the memory–yes, sunburn can be terminal for a GPS terminal.
Like all modern consumer electronics, a GPS receiver has few moving parts to break, so it can provide years of valuable service (and a whole lot of fun!) if not abused. Enjoy and have fun!