GAP Insurance NI

Get ALA Gap insurance Quotes for Car, Van, Motorbike or Campervan, Up to 75% cheaper than any dealer, Covers new, used and pre-reg vehicles

What is GAP Insurance NI?

GAP insurance NI provides Guaranteed Asset Protection. The asset can be any type of vehicle including cars, vans, pickups, motorhomes and motorbike. GAP insurance is normally associated with new cars, but is also available for older vehicles.

GAP insurance is designed to pay the difference between what the insurance company pays out and what you paid for the car. In Northern Ireland and the UK, cars depreciate quickly, so the Gap can be significant.

Let's look at an example. You purchase a new car for £15,000 and a few months s later it is either stolen or written off. The insurance company may at this stage only value the car at £15,000 at depreciation of 10&% in one month. The actual deprecation will vary depending on make and model, but either way you are left £15,000 out of pocket should you wish to replace your new car that is only 4 weeks old.

How much does GAP Insurance NI cost?

The cost of GAP insurance in Northern Ireland will depend on the value of the vehicle and term remaining on any car finance NI, but expect to pay around £100-£300 for 1 year cover. To get more details on the exact costs and what is being covered, click here to see What ALA can offer customers in NI.

Types of GAP Insurance NI Available

  • Finance GAP :  The GAP insurance company will pay out any outstanding finance owed to the finance provider, if the amount paid by the insurance company falls short of the finance amount. 
  • Return to Invoice GAP :  The GAP policy provider refunds the New  difference between what the insurance company paid and what you actually paid to purchase the car.:
  • New car GAP insurance : The GAP policy provider pays any shortfall after the insurance company has paid in order for you to buy a new car with exact same spec.

What GAP Insurance NI Does Not Cover

Check with each provider, but in general the following list of items will not be covered by a typical GAP insurance policy

  • Personal Injury or death
  • Damage to property
  • Repairs to the vehicle
  • Car repossession
  • Courtesy Cars
  • Any effect on the valuation caused by an accident   
  • Extended warranties added to the initial car loan,

Services offered by this provider may change over time. Always check Ts&Cs.

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