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3.6%First documentWhen Does Return to Invoice Cover Fall Short of Your Car's Value? | Generali CentralOpen original ↗
Second documentReturn-to-Invoice Cover: Is RTI Insurance Worth It | Generali CentralOpen original ↗
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What Should You Know About Return to Invoice Cover?
Return to invoice is an optional add-on cover for your standard car insurance. In case of complete damage due to accidents or theft, the cover should be of great help. It will also help if your car has been affected or damaged due to natural disasters. If your car is damaged for any of these reasons, you will receive the invoice value, not the market value.
1. What is the return to invoice cover?
Return to invoice cover is an insurance add-on that pays the full original invoice value of your car in the event of total loss, rather than the depreciated market value.
1. New Car Owners:
Your car's value will depreciate over time. In the initial years, the car value will depreciate significantly. Depreciation is highest during the first few years. Along with the zero depreciation cover, also get the RTI cover. In the event of a total loss of your car, you will be fully compensated.
Why RTI Insurance is Relevant
New cars depreciate rapidly, especially in the first few years. A car worth ₹10 lakh today might have a market value of ₹7 lakh after a year. Standard comprehensive insurance would pay only ₹7 lakh in case of total loss.
What Factors Affect the Cost of Return to Invoice?
2. The original invoice value of the car 3. The pricing structure of the insurer 4. What are the extra add-ons in the policy
How RTI Insurance Works
1. Policy Addition : RTI cover is purchased as an add-on to a standard comprehensive policy. 2. Total Loss Claim : In case of total damage, theft, or write-off, you file a claim with your insurer. 3. Invoice-Based Payout : The insurer pays the original invoice value instead of the depreciated market value. 4. Inclusions : Taxes, registration fees, and initial insurance premiums may also be reimbursed, depending on your policy terms.