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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?

If your vehicle is a total loss, due to an accident, theft, fire or flood damage, your motor insurer will only pay you the market value (second hand value) at the time.

Due to vehicle depreciation this will be much less than you originally paid for your vehicle. If you have finance, it might not be enough to cover the amount you owe.

ALA Return to Invoice GAP Insurance policy will pay the difference between the motor insurer’s settlement and the original vehicle invoice price, or the outstanding finance balance, whichever is higher at the time of the claim.

If your car is bought from a private seller we may be able to provide you with an Agreed Value GAP Insurance policy. Please contact one of the ALA team for more information.

POLICY WORDING POLICY SUMMARY QUOTE ME


How does this policy compare to Vehicle Replacement Plus?


Return To Invoice
Pays you back to the price you paid for the car or your finance settlement figure if that is higher.
You get back the money you paid for your car to use as you wish.
Settlement paid to you in the event of a claim.
For cars bought outright or on finance.
For cars up to 10 years old, no upper mileage limit.
No ongoing age or mileage limit.
Available for vehicles with an invoice price of up to £100,000
Vehicle Replacement
Pays up to replacement cost of a car 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 cars bought outright or on finance.
For cars up to 10 years old with less than 80,000 miles.
No ongoing age or mileage limit.
Available for vehicles with an invoice price of up to £125,000


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 internet broker
  • 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 GAP Insurance Features:

  • Available up to 4 years for vehicles owned outright or on finance
  • Pays up to £250 of your Comprehensive Insurance excess
  • Our policies do not have ‘Market Value’, ‘Glass Guide maximum retail value’, or ‘Pre Approval’ clauses
  • Personal details can be amended free of charge
  • Policy transfer – pro rata transfer of unused premium if you change your vehicle, with no admin fees
  • Discount available for renewal and additional policies
  • We guarantee to match 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
  • We are fully authorised and regulated by the Financial Conduct Authority (FCA) and your policy is covered by the Financial Services Compensation Scheme


Return To Invoice GAP Insurance Example:

Our Return to Invoice Insurance will pay either the amount outstanding to your finance company or back to your invoice depending which figure is higher at the point of a claim.
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 RTI Insurance payout: £6,000
Comprehensive insurance payout + ALA RTI Insurance payout = £21,000
(Leaving you clear of any owed finance on your vehicle)
Alternatively...
Your invoice value of: £20,000
The amount owed to the finance company at the point of claim: £18,000
Your comprehensive market value insurance payout: £15,000
Our RTI Insurance payout: £5,000
Comprehensive insurance payout + ALA RTI Insurance payout = £20,000
(Then you would need to pay the £18,000 owed to the finance company but you get to keep £2000)


Read more on why ALA GAP Insurance policies are better than the rest or click the green button to get a quote...