RTI Gap Insurance

For over twenty years, Click4Gap has offered car loans and comprehensive insurance products. We are in the business of saving money for our customers, understanding that, in today’s world, more and more customers are choosing to by-pass the dealers for finance and RTI gap insurance products.

Gap Insurance, Return To Invoice

Gap insurance is sometimes also known as:

*Return to Invoice (another name for RTI)

This is the best protection for both new and used car purchasers. Available to customers that have purchased with cash, using finance, placing the vehicle under contract hire or lease agreements. Return to Invoice protection pays the difference between the total loss (through an accident resulting in an insurance write-off, or a theft resulting in loss of vehicle) depreciated value of the vehicle, and the original price paid for the vehicle. In other words, with Return to Invoice Insurance (RTI) you can be sure you will receive the full purchase value (amount stated on the invoice) back in the event of a complete vehicle loss.

The advantage of using Return to Invoice gap insurance is that it helps to refund the depreciation, so you get back what you originally paid for the car. It is available on new and used cars and it is available when buying on cash, loans or even using finance options.

A disadvantage of Return to Invoice insurance is that it may not be transferred when you wish to sell the vehicle and it does not provide any benefit for any road costs such as road tax.

Example:

Amount Paid for Car (Invoice Price) - £ 16,000
Value of your car at Total Loss - £ 10,000
Combined Car Gap Insurance Payout - £ 6,000

To find out more about Return to Invoice cover call us today on 0844 357 8300

*Shortfall Cover, Finance Gap Cover

This protection is to settle your finance agreement if it is more than the value of your car. This is available to anyone who has purchased a car from a VAT registered motor dealer in the last 90 days. Finance shortfall pays up to £5000 if your finance company settlement figure is greater than: The value of your car, Invoice price (only if RTI upgrade has been purchased), Cost of a replacement new car (only if New Car Replacement upgrade has been purchased).

This means you benefit from both Gap Insurance and Financial Shortfall GAP in one product!

Example:

Car Value - £ 15,000
Amount of Loan - £ 15,000
Early settlement at time of loss - £ 16,700
Motor Insurance Settlement - £ 11,500

Gap Insurance Benefit - £ 3,500
Finance Shortfall Benefit - £ 1,700

Combined Payout - £ 5,200

To find out more about Gap insurance to cover your finance shortfall call us today on 0844 357 8300

*New Car Replacement Gap,

Suitable for new car owners alone. Whether you purchase your vehicle using cash, contract hire, leasing agreements or finance (credit borrowed from a financial institution) you qualify for this cover and protection. Once protection is purchased, your vehicle is safe. In the event of a theft or an accident (where-in your comprehensive motor insurer has deemed the car a write-off) Vehicle Replacement Insurance (VRI) will provide you with a brand new car of the same make or type, even in the event of drastic price changes. The risk and effort involved in a total loss situation is dramatically lessened, with the vehicle never being worth less than your comprehensive motor insurer’s settlement figure.

Example:

Amount paid for car £ 15,000
Motor Insurers Settlement £ 11,500
List price of brand new replacement car £ 17,000

Gap Insurance benefit £ 3,500
New Car Replacement Upgrade benefit £ 2,000
Combined Benefit £ 5,500

To find out more about Vehicle Replacement Insurance call us today on 0844 357 8300

*Excess Buster

If your car is stolen or damaged beyond repair, your motor insurance is designed to pay the value of your car on the date of total loss - not what it was worth at the start of your policy. The Car Gap Insurance policy pays the difference between your motor insurers' settlement and the value of your car today. In other words we pay the amount you lost in depreciation. Think of it as an incredibly valuable top-up to your Motor Insurance.

Whilst our Gap Insurance does not deduct any excess, most motor insurers do. In response to customer feedback, we have introduced the optional "Excess Buster" upgrade which refunds up to £500 of the excess deducted by your motor insurer.

Now you don't have to pay any excess in the event of a total loss!

Example:

Value of your car today - £ 15,000
Motor Insurance total loss value - £ 11,500
Less Excess - £ 500
Net motor insurance settlement - £ 11,000

Car Gap Insurance Benefit - £ 3,500
Excess Buster settlement - £ 500

Combined Car Gap Insurance Payout - £ 4,000

To find out more about Gap insurance cover call us today on 0844 357 8300

These types of gap insurance policies apply to all vehicles registered and used within the United Kingdom. The vehicle needs to have a comprehensive insurance policy, and be no more than seven years old. RTI gap insurance packages are there to help you, the customer, get the balance between the original purchase price of the new or used car and the value your comprehensive motor insurance company pays out. Contact Click4Gap for any queries, and to find the best rates when it comes to Return to Invoice gap insurance.

Nowadays, it has become so much cheaper and more time efficient to shop online. With merely a few clicks of a button, your products are chosen, and the purchase completed. The same can be said for RTI gap insurance with Click4Gap.

If you still need reasons to purchase the RTI gap insurance policy, contemplate where you would be right now if your car happened to be either stolen or written-off by your comprehensive motor insurance company due to an accident. The value of your vehicle is calculated on the day of the accident, and due to depreciation, there could be a significant difference between what you paid originally and your payout, leaving you with debts or payments outstanding on a vehicle that you have not even had the opportunity to truly enjoy yet. Even if the insurance company settles the debt, you still will not have a means of transport or a deposit to place on your next motor vehicle purchase.