Car insurance is never something that we want to deal with but is something that is a necessity so that we are protected when on the road. Most types of insurance are designed to cover any damage or losses that your vehicle might sustain when driving throughout Northern Ireland or Ireland. Some policies might cover more aspects than others but all are there to serve as a way to protect the driver should anything happen.
GAP insurance Northern Ireland is slightly different as it is designed to protect and provide additional financial cover to a driver if their original insurance payout isn’t enough to cover and fix all the expenses that may have come from being involved in an accident. It is also able to act as a way to prevent someone from falling into debt with any creditors who still may be owed money on the vehicle or other aspects tied into the car such as tax or registration.
Unlike most insurance types, GAP insurance isn’t an essential policy to have unlike comprehensive or stand third party cover. As it acts mainly as additional financial protection for someone involved in an accident, it can be a useful item to have especially if you own an expensive or new car that might cost more to repair than an older spec model. By having this, it could potentially prevent someone from losing thousands in the long run when trying to seek repairs.
Alongside that, it can be useful to have if you have a car whose value will decrease quickly. Most insurance payouts will only go out to what the car was originally worth which can be an issue for some drivers. By acquiring gap protection, it means that drivers can cover the additional difference between the payout amount and the damage costs and not be left in the red at the end of the situation.
If gap insurance is something that someone still wants to consider, it can be purchased either as an additional part of a car insurance policy or something that is unique on its own. Buying it on its own from a dealer or insurance firm will only require a one-off fee but the charges can be high and reach into triple figures. Even though the same amount can be charged by adding it on to the base premium, the regular payments are going to be much lower paying it on a monthly basis rather than a one off.
Despite it not being a necessity, anyone who does have an expensive or new car may want to look at gap insurance as a way to protect their vehicle and stay financially secure should an accident occur.