Benefits of Return To Invoice Cover In Car Insurance Policy

Car insurance is a crucial requirement as it protects against unexpected financial burdens resulting from accidents, thefts and more. Without comprehensive car insurance, hefty expenses related to car repairs, medical bills, and legal charges can dent a big hole in the pocket. Various unique features of comprehensive car insurance ensures that you are legally compliant and financially secure, giving you peace of mind while driving. Return to Invoice add-on cover (RTI) is a valuable add-on cover along with car insurance that adequately compensates for major losses.

What Is RTI In Car Insurance?

The Return-to-Invoice add-on cover is a valuable rider along with comprehensive car insurance that compensates for the loss when the car is stolen or suffers total damage in an accident. Return-to-Invoice add-on covers and reimburses the ex-showroom price (originally paid for the car, including registration fee and taxes) for the vehicle. This allows you to replace your car with a new one without financial blows due to theft or complete damage due to an accident.

Return-to-invoice add-on cover is valuable as it provides additional financial protection over and above standard car insurance coverage. You can benefit from this add-on by paying an additional premium while availing yourself of comprehensive car insurance.

Generally, the insured's declared value is taken into consideration while compensating for theft or damage in car insurance. In case of return to invoice cover, the car insurance provider compensates for the car's ex-showroom price in case of total loss or theft.

Benefits of RTI Add-on Cover

The following are the benefits of return to invoice cover in comprehensive car insurance:

Financial security

Return-to-invoice add-on cover in comprehensive car insurance provides an additional layer of protection beyond the standard coverage offered by car insurance.

Full Reimbursement of Invoice Value

Return-to-Invoice add-on cover reimburses you fully for the ex-showroom price of your car, including the registration fees and the tax amount paid when buying a new car. This reduces the financial burden of theft or accident resulting in total damage.

Protection Against Depreciation

Return-to-Invoice add-on cover compensation is not based on the insured declared value or your car's current market value (after deduction of depreciation). Instead, you get back the amount you initially paid for the car as compensation. This helps to retain the value of your investment in the car.

Convenience in Replacement

As you get the ex-showroom price as compensation under Return-to-Invoice add-on cover in car insurance, you can easily replace the stolen or damaged car with a new car without any financial distress.

Conclusion

To sum up, return to invoice add-on cover is a crucial feature of comprehensive car insurance that adds huge value. The complete financial protection Return-to-Invoice add-on cover offers makes it a valuable addition to your car insurance.