Return To Invoice (RTI)Cover

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Return to Invoice (RTI) Cover (An add-on or Extension to comprehensive car insurance) Return to invoice or RTI cover provides coverage to the policyholder in case the car is stolen or when it is beyond repair. Under this cover, the insured is eligible to get the full compensation from the insurer that is the last invoice amount of the car when it was purchased under the above-mentioned conditions. This includes road tax and registration charges. If the policyholder has not purchased Return to Invoice cover for the vehicle, he/she will only receive the Insured Declared Value (IDV) of the car as claim payout. IDV is calculated as the manufacturer's listed ex-showroom price minus depreciation. In a normal car insurance cover, the maximum amount of claim you can get is restricted to its IDV of the car. Return To Invoice is an add-on option which covers the gap between the Insured Declared Value (IDV) and the invoice value of the car. For context, the IDV is lesser than the invoice value of your car because of depreciation that happens over years. own a new car, opt for RTI covers as the depreciation of the car increases year after year which can poorly affect your claim settlement in case of theft or complete damage. If you live in a theft-prone locality or even you are based in a natural disaster-inclined area, you must opt for a return to invoice (RTI) cover. RTI in car insurance ensures that you receive the entire value of the amount as per the original invoice in case of theft or complete damage. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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