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Do You Know the Benefits and Limitations of RTI Cover?

RTI which stands for “Return to Invoice” cover is an add-on option which covers the gap between the insured declared value and the invoice value of the car. Extended Auto Warranty Companies give you a recovery for the entire amount of loss or the on-road price you paid for your car. It costs around 10% more than your normal comprehensive policy. Here are its advantages that you should know:

  1. The RTI insurance cover enables you to claim an amount equal to the original invoice value of the car if you meet an accident or your car is stolen.
  2. The value of the vehicle in insurance policy remains equal to the On-Road price of the car in case of total loss when you had bought the vehicle. This doesn’t have to do anything with IDV (Insured Declared Value).
  3. It also covers the road tax, and registration charges paid by you but not in case of Zero Depreciation Add-On cover.
  4. It means paying an additional premium to the rider for providing comprehensive car insurance cover.

Though there are several benefits to the RTI (Return to Invoice Cover) there are limitations too. Go through the blog to know its drawbacks.

  1. This cover doesn’t include provisions for a partial loss. So, you can avail it only if there is a total loss to the vehicle.
  2. The RTI insurance cover is not available for vehicles older than 5 years. It also considers the depreciation factor in case of vehicles older than 5 years. Also, it depends on auto car protection provider as for how long they intend to offer this cover.

Though there are limitations there are numerous advantages too if you are going to choose the RTI cover for your vehicle. This cover acts as a blanket for safeguarding you in case of damage to your vehicle. Can you take such a good care of yourself? No! So, choose the RTI Cover to get the compensation for the loss.


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