Compare Finance Gap Insurance against Return to InvoiceWhat are the basic differences between Finance Gap Insurance and Return to Invoice Gap cover?
Finance Gap Insurance - will cover between the vehicle market value (at the point it is 'written off' by your motor insurer, and the outstanding settlement figure on the vehicle
Combined Return to Invoice - will cover between the vehicle market value (at the point of total loss) and the original invoice price you paid. (Please note the GapInsurance RTI policy is a 'combined' cover, so will actually clear your finance settlement if that figure is higher than your original invoice price)
So lets look at an example of how these two types of Gap Insurance would perform in a certain situation.
|Finance Gap||Return to Invoice Gap|
|Back to Invoice||No||Yes|
|Features and suitability :-|
|Contract Hire leases||Yes||No|
|Motor Insurance Excess contribution||Yes £250||Yes £250|
|Dealer Fitted Options covered||Yes £1500||Yes £1500|
With GapInsurance123 these policies are available for cars, LCV's and Vans, Motorhomes, Motorbikes, Taxi's and Driving School vehicles.