Return to Invoice GAP Insurance

Return to Invoice (RTI) is a popular form of GAP insurance that, should your car be written off, will make up the difference between the amount you receive from your car insurer and the amount you initially paid for your vehicle.

So, if you paid £14,000 for your new car but your car insurer only paid out the current market value of £8,000, RTI GAP insurance would make up the £6,000 shortfall.

When you buy your new vehicle, you can purchase RTI GAP insurance in addition to your standard car insurance. To get Return to Invoice GAP insurance you will typically have to take out a policy within a certain time period of purchasing your car. This time limit will depend on the terms of each insurer.

If your vehicle is declared a total loss by your car insurer, you should contact your GAP insurer to start the process of making a claim. They will determine the difference between your car insurance payout (which will cover the market value of the car at the time of write-off) and the amount you paid for the car and, after all the necessary checks, will pay out the shortfall if your claim is successful.

There are a range of insurers offering Return to Invoice GAP insurance, each with their own different terms. You can compare a variety of providers on our comparison tables to find the most suitable option for you, looking at costs, the duration of the policies, exclusions, and other key features.

To find the most suitable Return to Invoice GAP insurance policy, you should research different providers to find the cover that best meets your requirements. You will need to consider whether you’re wanting to get cover for a new or used car, how much your car is worth, how long you want cover for, the cost of the cover, and your own preferences and financial situation.

It’s up to you if you get Return to Invoice GAP insurance. It is not a legal requirement, but it can be useful if you have a new car that will significantly depreciate in value. If you would want to replace your vehicle with a brand-new car and wouldn’t be able to afford this without the GAP insurance payout, then you may want to consider getting this cover.

You will often be able to purchase Return to Invoice GAP insurance if you bought your car on finance, although you would need to check the terms of each insurer. In this instance, RTI GAP insurance would pay off any outstanding finance, and you would receive any surplus left over.

Although many people that take out Return to Invoice GAP insurance will do so when purchasing a brand-new car, as this is most at risk of losing its value, it can also be taken out to cover second-hand vehicles as long as they meet the insurer’s criteria. However, it is worth checking the terms of each insurer as some insurers may only offer cover to new vehicles.

This will depend on the provider. Some GAP insurers will require an invoice from a registered dealer in order to offer you a Return to Invoice GAP insurance policy. However, there may be some providers that will offer cover if you purchase from a private seller.

If you bought a car from a private seller and can’t find a suitable RTI GAP insurance policy, you could look into Return to Value GAP insurance policies instead.

If you have a brand-new car, some car insurers will include a 12-month new car replacement (or new for old) cover in their policy. In this instance, you could choose to defer your Return to Invoice GAP insurance for 12 months, although you would normally still need to take out the policy within a certain number of days of purchasing your car.