Gap Insurance

(26-10-2012 09:34pm)enigma Wrote:  Would you kindly explain any differences between GAP insurance and RTI

Thank you

Hi,
RTI is Gap insurance, it stands for Return to invoice. You get different types of GAP Policies, RTI and Private buyer. The difference is RTI is when you get the the difference between what your car insurance pays out and the value on your invoice when you purchased the vehicle. You can only have a RTI policy within the first 6 months of buying your car.
Private buyer Gap is when you have owned the car for a while (6 months or more) and decide you want a Gap Policy. You get the difference between what your car insurance pays out and the value of your vehicle was when you purchased the Gap Insurance Policy. They usually judge the value of the car from Parkers Guide or similar.
If you have any further questions then please let me know.
Thanks
James

(29-10-2012 03:43pm)kam100 Wrote:  Hi,
RTI is Gap insurance, it stands for Return to invoice. You get different types of GAP Policies, RTI and Private buyer. The difference is RTI is when you get the the difference between what your car insurance pays out and the value on your invoice when you purchased the vehicle. You can only have a RTI policy within the first 6 months of buying your car.
Private buyer Gap is when you have owned the car for a while (6 months or more) and decide you want a Gap Policy. You get the difference between what your car insurance pays out and the value of your vehicle was when you purchased the Gap Insurance Policy. They usually judge the value of the car from Parkers Guide or similar.
If you have any further questions then please let me know.
Thanks
James

Thank you, much appreciated

For info I purchased an extended warranty from Kam over on the RRS forum. Good service. I will be buying his GAP cover for my new RRE when it is delivered next week