GAP INSURANCE
Providing GAP insurance to Northern Ireland
GAP insurance, or guaranteed asset protection insurance, can be valuable if you have purchased a new car. It covers the ‘gap’ between what you paid for your new vehicle and what the insurance company pays out in the event of the car being written off following damage or theft. Our friendly team of advisors will help find the right GAP insurance for you! If you’re searching for car insurance
as well, we’ve got you covered!
Why choose GAP insurance
If you have comprehensive cover on your car then, in event of damage to your car following an accident, your car insurer will deal with your claim. If your car is ‘written off’ as a result of the accident your car insurer will, in most cases, pay you only the market value of the car at the time of the loss.
There are different types of GAP insurance (designed to suit particular circumstances). This is a simple example of how it can work:
- You purchase a new car for £10,000. Your car insurer ‘writes off’ the car following an accident a year later
- The insurance company pays out £6,500
- The remaining £3,500 is covered by your GAP insurance
Don’t wait to purchase your GAP insurance
If you're leasing or purchasing a new car in Northern Ireland then get in touch with J J Ballantine & Co today to discuss GAP insurance. Please don't delay, GAP insurance must be purchased within 90 days of leasing or buying your new vehicle, so contact us now!
J J Ballantine & Co is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 305780. You may check this on the Financial Services Register by visiting the FCA's website, register.fca.org.uk or by contacting the FCA on 0800 111 6768.
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