Holden GAP & RTI Insurance

Covering the shortfall due to a write off

Due to accident, flood, fire or theft, your motor insurance company declares your vehicle a total loss. What’s more, there could be a significant shortfall between the original value of your vehicle and the insurer’s pay-out at the time of the total loss, likely to be the current market value.

And what if you used a finance agreement to buy a vehicle that’s declared a total loss before you’ve paid back all you owe? You may have to pay any outstanding monthly payments in one lump sum, on a vehicle you can no longer use. Whether you’ve paid outright, or have taken out a finance agreement, you can protect yourself from exposure to financial loss with our Combined Guaranteed Asset Protection and Return to Invoice facility.

How it works - RTI Insurance
• You pay £18,500 for your vehicle.
• Your vehicle is written off.
• Your motor insurance company pay-out is £12,000.
• An RTI pay-out of £6,500 tops it up to the price you originally paid
How it works - GAP Insurance
• You pay £18,500 for your vehicle.
• Your vehicle is written off.
• Our motor insurance company pays out £12,000 but you still owe £19,200 on your finance agreement.
• A finance GAP pay-out of £7,200 makes up the difference originally paid