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What is Return to Invoice Cover (RTI) in Car Insurance?

return to invoice cover

RTI or Return to Invoice is a cover that enables you to receive compensation when a car is stolen or when it is beyond repair. Earlier, this compensation amount was equivalent to the car's invoice value i.e., the original value of the car when you bought it. Now, we have enhanced the coverage for RTI, wherein the policyholder can claim for the amount as per the value opted by them at the time of add-on purchase. This value could be the original invoice value when the vehicle was purchased or the new invoice value when the insurance was bought or the new invoice value when the vehicle was totally damaged or stolen.

For instance, in the unforeseen circumstance where your car is stolen, and the police are not able to find the car, it might put you in a difficult, dire situation. Apart from this, if your vehicle suffers an accident and gets damaged beyond repair, you are eligible to raise a claim against it. This is when RTI comes into the roleplay. When you have return to invoice insurance, you need not worry as it lets you get the compensation equal to the invoice value of your vehicle.

How Does RTI Cover Work?

rti in car insurance

The return to invoice car insurance becomes active when your insured car suffers damage beyond repair and can no longer be repaired in a garage. It becomes a waste. To get compensation for the loss, the policyholder can raise a claim.

For insurance claim purposes, the insurance declared value of a car is taken to be the maximum amount you get for your car. However, sometimes, the IDV might be lower than the last invoiced value of your car. This can occur in the case of older cars that see higher rates of depreciation! However, with our enhanced RTI add-on cover, the vehicle owner can receive the original invoice amount of the car or the new invoice value when the car insurance was purchased or the new invoice value when the vehicle was stolen or declared irreparable.

You need to inform your insurer about the incident and raise a claim. Make sure to attach all the relevant documents, photos of the incident (if any) and other details. In case of theft, a copy of the FIR has to be attached as well. The insurance company will do the survey and determine what is needed. Once the vehicle is declared damaged beyond repair or lost, you receive the compensation. Without RTI, you only get the IDV (Insured Declared Value) amount and with RTI, you get the invoice value of the car.

What is Covered/Not Covered in Return to Invoice (RTI)

Suppose you buy a car and park it somewhere on the road beside your home. Next, you file an FIR, but the police are not able to find the car after the investigation. This is when the RTI Cover can be applicable.

Living in a theft-prone area

Living in a theft-prone area

Get an RTI cover if you stay in a place where car thefts are common.

Non-availability of secured parking

Non-availability of secured parking

This often happens in bigger cities and with HDFC ERGO's RTI top-up, you can sleep peacefully without any care!

Financial burden

Financial burden

Forget the worry of having to pay high bills in case of irreversible damage to your car or loss via theft!

Natural calamity prone area

Natural calamity prone area

Living on a hillside or an area where floods occur often could expose the car to the risk of high-end damages, getting an RTI from HDFC ERGO offers you a viable solution against further financial drain!

How is RTI Calculated?

HDFC ERGO sanctions an RTI claim figure after it compares two values as per the following-

1. The value selected by the policyholder which might be – the original car invoice value, including ex-showroom price, road tax paid and purchase registration or new car invoice value at the time of insurance purchase or new car invoice value when the car got damaged or stolen.

2. The car replacement price is based on the ex-showroom price point, registration costs and road taxes payable.

3. The lower figure between these two is sanctioned as the claim amount for cars with RTI add-on.

How Much Does Return To Invoice Cost?

RTI Invoice cost

RTI add-on prices vary according to the car model and age. HDFC ERGO offers easy calculators for you to understand the value. RTI premium is mostly 10 per cent higher than the premium for comprehensive coverage without RTI.

Example of RTI In Car Insurance

To understand what is return to invoice in car insurance, here is an example:

Rajiv purchased a brand new compact SUV of ₹17 lakhs. Rajiv lives in a flood-prone area. It's just been 1.5 years since he purchased the car, and in a flood mishap, his car got washed away. Even after all the efforts, the car couldn't be spotted.

1

Case 1

Rajiv purchased a return to invoice in car insurance along with a comprehensive car insurance policy. Hence, when his car got lost, Rajiv raised a claim and received the full amount of ₹17 lakhs. Using this amount, he is able to again purchase a new vehicle.
2

Case 2

Rajiv only invested in a comprehensive car insurance plan and didn't purchase the RTI cover. So, now, when his car got washed away, he raised a claim. The IDV after deductions is ₹14 lakhs. So, Rajiv receives ₹14 lakhs as compensation.
With the aforementioned example and cases, you can see the difference that RTI cover makes. With RTI insurance, you need not shell any amount from your pocket.

How to opt for RTI Cover

Return to invoice cover is an add-on cover that can be purchased with a comprehensive car insurance plan. Here is how you can opt for it:

1

Active comprehensive plan

If you already have a comprehensive car insurance plan, you can opt for RTI coverage at the time of renewing the policy.
2

No active comprehensive plan

If you do not have a comprehensive plan, you can switch the car insurance policy at the time of renewing the policy. You may also end your plan and switch to a new insurer to get RTI cover immediately.

Validity of The Invoice Protection Cover

The validity of the return to invoice in car insurance is for 1 year. Depending on the plan chosen and the insurer, you may increase the validity of the plan. This add-on cover goes along with the comprehensive car insurance plan. So, when you renew the comprehensive plan, the RTI cover also has to be renewed.

Advantages of RTI Add-on Cover

• Best suited for new cars: This is based on HDFC ERGO's understanding that new cars need compensation as per the invoiced amount in case of irreversible damage.

• Increases the Scope of Coverage: A plain car insurance policy as per IDV doesn't offer you security as much as a coverage plan with an RTI add-on.

• Better protection from total damage: You get a value that is closest to the value of the car as opted, which is, when it was first purchased or when the insurance policy was bought or when the car got damaged beyond repair.

• Beneficial in case of theft: This gives you both mental peace and an assurance that maximum value can be recovered in terms of compensation.

• For damage beyond repair, get a similar model of the vehicle: You can get a good sum that is as close to the original invoiced amount as possible or the new invoiced value as per revised conditions. However, for TP issues, this isn’t applicable at all.

• Available with Own Damage: The RTI claim coverage is valid only when your own car undergoes damage. It is not applicable for third-party damages.

Who Can Opt for RTI Coverage in Car Insurance

If you own a new car, opt for RTI cover as the depreciation of the car increases year after year which can poorly affect your claim settlement in case of theft or complete damage. If you live in a theft-prone locality or even you are based in a natural disaster-inclined area, you must opt for a return to invoice (RTI) cover. RTI in car insurance ensures that you receive the entire value of the amount as per the coverage selected on the original invoice value or new invoice values in case of theft or complete damage.

When is RTI Applicable?

While Return to Invoice can be a very beneficial cover, when opting for it you need to know about its applicability. Keep in mind that you won't be able to claim for the minimal damage and repair of your vehicle, but only in the following situations

• The RTI cover will be applicable in case your car is stolen and the police are unable to trace it.

• After an accident, if the car is a total loss. This means that the cost of repair of the car is more than its IDV.

• Return to invoice insurance is only applicable to cars below 3 years. This is because after three years, the car depletes its value enormously.

How a Claim Against RTI is Settled?

Here's a step-by-step guide to settling your car insurance claim against Return to Invoice

• Get a stamped copy of FIR in case of theft, stating that the car is untraceable

• In case your car gets damaged due to a fire, you can get feedback from an authorised garage to prove that your car is beyond repair from damages.

• Submit the document by uploading it to the HDFC ERGO portal for customers. While uploading documents, you will also have to enter or upload other important insurance-related details.

 

Things to Remember About RTI Cover

If you plan to invest in RTI cover, you must know a few things about it, like:

RTI Cover

Available only for new cars

Cars up to three years old can avail the RTI add-on benefit from HDFC ERGO.

return to invoice in car insurance

RTI is an additional cover

RTI insurance is an add-on cover. It is not covered under the basic plan of the vehicle insurance. You need to top up the base plan with RTI cover.

RTI cover in Comprehensive insurance

Comprehensive car insurance plan

In order to purchase a return to invoice, you need to have a comprehensive car insurance plan. This add-on is not available with a third party car insurance policy.

rti insurance

Cost and validity

The renewal needs to be initiated every year along with the comprehensive premium renewal at HDFC ERGO. The cost depends on the car’s last or latest invoiced value.

Complete reimbursement vs IDV

Complete reimbursement vs IDV

IDV allows you to get a claim amount based on the market value of the car as per make and model as well as age. Taking depreciation in account, the claim you receive will be lesser than the car’s value during the time of buying, but for RTI you get the total amount as per invoice.

rti cover in car insurance

Covers total loss and theft only-

RTI does not apply for damage via accidents or minor dents and small damages.

HDFC ERGO Car Insurance Add-ons

When it comes to car insurance, spending a small amount more for car insurance add-on coverage can prove to be the best choice because it completely protects your family and your precious car. HDFC ERGO provides you with the most comprehensive insurance policies with appealing features and budget-friendly pricing. In all emergency situations, we cooperate with you to maintain the safety of your family and your car.

Boost your coverage
Zero Depreciation Cover - Insurance for Vehicle

Under a zero depreciation add-on, you receive the entire claim without deducting the depreciation on the car’s parts

No Claim Bonus Protection - Car insurance renewal

When you do not put in any claim for a complete year, you get a reward from HDFC Ergo in the form of a discount

Emergency Assistance Cover - Car insurance claim

In case your car broke in the middle of your journey, emergency help covered by HDFC Ergo helps you with mechanical support, towing, keys replacement, tire replacement, refuelling, etc.

Pay as you Drive

A usage-based add-on where you pay per your consumption. Here, you select a slab that denotes the estimated distance that you will be travelling basis which the premium is calculated on your invoice..

Car Insurance Add On Coverage
Return to Invoice - insurance policy of car

Return to invoice insurance means, your insurance provider will compensate you the original invoice value or the new invoice values of car as opted, in the event of theft or total damage.

Consumable items cover

Your insurance policy would not cover consumable items such as nuts, bolts, grease, AC gas, battery water, lubricants, etc. However, the consumables cover would help you in saving significant out-of-pocket expenses

Downtime protection - best car insurance in india

The downtime protection cover will help bear the expenses you spend on cabs for your daily commute while your car is getting repaired.

Loss of Personal Belonging - best car insurance in india

This add on covers loss of your personal belonging such as cloths, laptop, mobile, vehicle documents like Registration Certificate, Driving License etc.

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Frequently Asked Questions


No, you can buy RTI top up for cars up to 3 years of age.
If the accessories are showroom fitted and inbuilt, then you can avail RTI as part of these. Extra-fitted accessories are not covered under RTI.
In case of return to invoice (RTI) cover, the value in the original invoice of your vehicle is considered. On the other hand, insured declared value (IDV) is the estimated market value of your car as of today. RTI considers the historical price you paid while purchasing the car. Whereas, IDV is the market value of your car as of today. If you have an RTI cover and your car is stolen or there is extensive accidental damage, this cover ensures that you get the maximum of original price you paid to buy the car. Without this cover, the maximum amount you can claim is the IDV that is today’s saleable value of your car.
RTI cover and Zero-Depreciation cover work very similar but the major difference between these two is the maximum amount of claim that you can fetch. In case of zero-depreciation cover, the maximum amount you can claim is the core value of your car without the effects of depreciation, that is the ex-showroom price you paid. Whereas RTI cover lets you claim the final invoice value of the car including cost of registration, State road tax, etc.
Yes, in case of theft and total damage, RTI is applicable.
No, minor dents and damages are not covered under RTI.
In most cases, the maximum claim amount is limited to the Insured Declared Value (IDV) of your car. However, the Return to Invoice (RTI) option acts as an add-on security, covering the disparity between the IDV and the actual invoice value of your vehicle. Due to the natural depreciation of your car over time, the IDV is consistently less than the original invoice value. When you have RTI insurance in place, you're entitled to the current on-road price of your vehicle. This means that even if there has been depreciation, you won't be affected by it.
IDV is the current value of your car. It is the maximum claim amount that you will get in case your car is stolen or is in total loss. IDV is essential in all car insurance policies, while RTI insurance is valuable if you wish to receive the full invoice price should your vehicle be declared a total loss or stolen. The return to invoice insurance is a useful add-on as it typically offers a higher claim amount.
The primary advantage of Return to Invoice (RTI) is that it is a guarantee that you'll receive the original invoice price of your car in the case of theft or total damage. Thus, it offers peace of mind and the potential to recover the car's original value. Since the cases of theft or accidents are high these days, it is an effective solution for protecting your investment.
The Return to Invoice cover applies to cars that are up to 3 years old. However, this may depend on your insurance company. You can only use this coverage when your car is declared a total loss or is stolen. Note that you will need to provide the original invoice of the car when making a claim.
Invoice protection, often referred to as a return to invoice car insurance, is an add-on cover that ensures that you receive the full purchase price of your car in the unfortunate event of theft or total loss. This works as an added security, protecting you from depreciation and financial loss.
RTI or return to invoice insurance add-on can be purchased only when your car is brand new, which means you have just bought or if it is a pre-owned car that is less than 3 years old. If your car is yet to be 3 years old, it’s recommended to buy an RTI add-on as soon as possible to ensure full security of money in case of mishap.
Return to Invoice (RTI) cover typically has specific terms and conditions, and it does not offer unlimited conditions. For example, RTI doesn’t cover third-party insurance benefits.
There is the least chance that you will get a return to invoice add-on to the car older than 5 years. Most car insurance companies offer a return to invoice in car insurance only up to 3 years of the vehicle’s age.
Those who have recently bought a car should choose Return to Invoice (RTI). As a car's value depreciates with time, it potentially affects your claim settlement in situations like theft or severe damage. Thus, if you reside in an area prone to theft or natural disasters, you need RTI in car insurance for added protection.
Return to Invoice add-on comes into play when your car is damaged beyond repair or stolen, covering the gap between the Insured Declared Value (IDV) along with the original value of the invoice during the claim settlement process. Whereas the Zero Depreciation add-on is for repairs when your car is damaged due to various reasons like accidents, natural disasters, fire, or explosion. It bridges the cost of car parts replacement without considering depreciation.
Generally, there are no deductions in RTI cover claims, as it ensures you receive the complete invoice amount. However, in rare cases, the money you get when you make a claim does not match the invoice amount of your car. It depends on your insurance policy's terms. Get in touch with your insurance company to get the exact details
Return to Invoice (RTI) is a valuable add-on, particularly for owners of new cars. When you make a claim using RTI in car insurance, the insurance company is obligated by law to provide complete invoice coverage. This means they must cover all the costs, including the on-road price, registration fees, road tax, etc. It's worth considering because it protects your investment by guaranteeing the full invoice price, mitigating the impact of vehicle depreciation.
Yes, you can certainly opt for other add-ons along with Return to Invoice (RTI) to enhance your car insurance coverage. These may include zero depreciation, NCB protection, roadside assistance, engine protection, or consumables cover, offering a more comprehensive insurance package.