GAP Insurance

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Return to Invoice GAP Insurance

Return to Invoice GAP Insurance is also known as Back to Invoice GAP Insurance.

What is Return to Invoice Plus GAP Insurance?

POLICY WORDING POLICY SUMMARY

This GAP Insurance policy will, in the event of a total loss claim (accident, theft, fire or flood damage), pay the difference between the comprehensive insurer’s settlement and the original vehicle invoice price* or the outstanding finance balance, whichever is higher at the time of the claim.

The settlement from your insurer after a total loss will be less than you originally paid for your vehicle, leaving you with a financial shortfall. With Return to Invoice GAP Insurance this is covered for you – if you have finance, this can be cleared and anything remaining is yours to use as you wish. If you own the vehicle outright the full settlement from your motor insurer and Return to Invoice policy is yours to use as you wish.

*If the car is bought privately and no VAT invoice is present, we will pay back to the Glass Guide value of the vehicle at the time of purchase.

Mind the GAP! Avoid a potential shortfall...

On the road price: £
Anticipated length of ownership (years):

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Do I need Return to Invoice Plus?

The answer to this is yes, if you want to:

  • Protect the price you paid for your vehicle and cancel out the effects of depreciation
  • Be paid more than just the market value settlement at the time of a total loss
  • Have enough money to clear any outstanding finance in the event of a total loss AND be left with any amount remaining once this has been paid
  • Between the motor insurer and GAP cover, receive the full amount you paid for your vehicle – if you do not have any finance, this amount is yours to use as you wish

Can I buy Return to Invoice Plus?

  • I have bought a new vehicle, or a used vehicle under 10 years of age
  • My vehicle was collected within the last 365 days
  • My vehicle is owned outright OR I have a Hire Purchase or Personal Contract Purchase finance agreement
  • My vehicle was bought from a VAT registered dealer OR private seller
  • My vehicle is not excluded

    Vehicles used in any sort of competitions or rallies. Vehicles used for racing, pace making, speed testing or in reliability trials; Vehicles not listed in Glass's Guide; kit cars; invalid carriages; commercial Vehicles of more than 3500kg gross weight. Any, taxi, mini cab, driving tuition vehicle, courier or delivery vehicle of any type or any private or public rental vehicle.

Return to Invoice Plus GAP Insurance Features:

  • Available up to 5 years for vehicles owned outright or on finance
  • We are fully authorised and regulated by the Financial Conduct Authority (FCA) and your policy is covered by the Financial Services Compensation Scheme
  • Pays as standard up to £250 of your Comprehensive Insurance excess
  • Our policies do not have a ‘Market Value Clause’
  • Our policies do not a have a ‘Glass Guide maximum retail value clause’
  • Any amendment made FREE of charge
  • Policy transfer – pro rata transfer of unused premium if you change your vehicle, with no admin fees
  • Available for cars, vans and motorcycles up to 10 years old, delivered within the last 365 days
  • Discount available for renewal and additional policies
  • We guarantee to beat any comparable online GAP quote
  • This policy is combined with Finance GAP, it will either pay back to the invoice price or the outstanding finance, whichever the greater. *see illustration below

Return to Invoice Plus Example

Return to Invoice Plus Example (With Finance)

*Example shows the amount covered by your Comprehensive Vehicle Insurance (based on average depreciation rates and current market value) and the potential shortfall if your vehicle is written off.

Your invoice value of: £20,000
The amount owed to the finance company at the point of claim: £21,000
Your comprehensive market value insurance payout: £15,000
Our Return to Invoice Plus payout: £6,000
Comprehensive Insurance payout + ALA GAP Insurance payout = £21,000
(Leaving you clear of any owed finance on your vehicle)
view an alternative example
QUOTE ME

How does this policy compare to Vehicle Replacement Plus?


RETURN TO INVOICE
Pays you back to the price you paid for the vehicle or your finance settlement figure if that is higher.
You get back the money you paid for your vehicle to use as you wish.
Settlement paid to you in the event of a claim.
For vehicles bought outright or on finance.
For vehicles up to 10 years old, no upper mileage limit.
No ongoing age or mileage limit.
Available for vehicles up to £250,000
VEHICLE REPLACEMENT
Pays up to replacement cost of a vehicle matching the original or your finance settlement figure if that is higher.
Protects from manufacturer price increases or discounts that are no longer available.
Settlement paid to you in the event of a claim.
For vehicles bought outright or on finance.
For vehicles up to 10 years old with less than 80,000 miles.
No ongoing age or mileage limit.
Available for vehicles up to £125,000

Return to Invoice Plus FAQ

A Return to Invoice Plus quote is based on the price you're paying for the vehicle.

For this reason, use the cost of the vehicle itself including manufacturer fitted extras and dealer fitted extras (as long as these are on the manufacturer price list and appear on the vehicle purchase invoice).

Include within this any deposit or trade in you have made against the purchase but use the price of the vehicle after deducting any dealer of manufacturer discount.

You don't need to include any interest or charges relating to your finance agreement, if you have one.

Other add ons and on-the-road costs like extended warranty, paint/upholstery protection, road fund licence or fuel are not included as part of the price of the vehicle.

If you would like any assistance with a quote, please contact our team on 01653 916304

Return to Invoice Plus will cover the difference between your motor insurer's settlement and either your invoice price or outstanding finance - whichever is greater at the time of a write off.

The Vehicle Replacement Plus policy would pay the difference between your motor insurer's settlement and either the replacement cost of a vehicle of the same make, model, age and specification as the original vehicle or the outstanding finance, again whichever is greater at the time of a write off.

As part of our Return to Invoice Plus policy, if you have bought your vehicle from a private seller and do not have a VAT invoice, the GAP policy will pay the difference between the Comprehensive Insurance settlement and the Glass Guide retail value of your vehicle at the time the policy is purchased.

There are some things we are unable to cover which includes, but is not limited to: delivery cost, first registration fee, extended warranty charges, insurance products, administration fees, road fund licence and paint/upholstery protection.

If you would like further advice about whether to include something in the vehicle price, then please call us on 01653 916304