What is RTI or Asset protection
If your car is declared a "Total Loss" by your road risk insurance company, you will only be paid the 'current market value' of the vehicle at the time of loss NOT WHAT YOU ORGINALLY PAID! Fortunately you can soften the blow with RTI. it pays out as a supplement to your comprehensive motor insurance, so you can afford to replace your vehicle with a similar model.
How does RTI work? if your vehicle is deemed a Total Loss by your road risk vehicle insurer. Return to Invoice insurance will pay the difference between; The Motor Insurance settlement or Glass's Guide Retail Value, whichever is the higher and the net invoice price you paid for your vehicle. For Example; your vehicle is involved in an accident and is declared a Total Loss by your Motor Insurance company. You have RTI and make a claim to make up the shortfall between what you originally paid for the vehicle and the insurance company offer;
Vehicle; Porsche Cayman
Registration Date: 24 May 2007
Net Invoice Price £19,995
Market Value after 2 years: £14,000
Claim Value: £5995.
Eligibility To be eligible for RTI your vehicle must satisfy the following criteria;
The vehicle is up to 10 years old.
The vehicle invoice price is less than £75,000
The vehicle will be fully comprehensively insured throughout the term of the policy.
The vehicle is less than 3.5 tonnes in GVW
The vehicle will not be used for hire or reward (e.g. taxi, speed testing, etc...)
Full Terms and conditions available on request.
What is GAP insurance
If any settlement on your dealer arranged car finance is greater than the amount covered under your RTI policy, then Finance GAP will settle the higher figure. What's more, Finance GAP will cover your for up to 60 months of your loan.
•The cover does not include any warranty charges, insurance premiums, service plans and road fun license included in the purchase price of your vehicle.
•Negative equity from a previous vehicle is not covered under this policy, your vehicle qualifies for RTI/GAP insurance if; vehicle is up to 10 years old and 1000,000 miles at date of invoice.
•Your total loss is covered when it occurs within Great Britain, ise of man, channel islands or a member country of the European community.
•Market Value is greater amount of either the insurance company payout or glass's guide retail value
•And meets all the terms of RTI. Full Terms and conditions available on request or read the Policy Book
We include GAP for free with all our RTI policy's.