If you have an accident and your car is written off, your car insurance will only pay out the current market value. This could be a lot less than the amount you paid for your vehicle.

Return to invoice (RTI) GAP insurance covers the difference between the exact amount you paid for your car, and your insurance payout if it is written off or stolen.

As new cars can depreciate in value by up to 70% in the first three years, GAP insurance could save you thousands of pounds.

How to find the best policy

To get the best RTI GAP insurance, you should check:

  • Cover amount: This is the maximum amount you can claim on your GAP insurance policy, e.g. up to £50,000.

  • Length of cover: This is how long the policy can last for, e.g. up to five years.

  • Type of purchase covered: Some insurers only cover cars bought through dealerships.

  • Length of ownership: Most GAP insurers will only cover your car if you have owned it for less than a certain period, usually between 2 and 12 months depending on the insurer.

When you know what cover you need, compare as many RTI insurance quotes as possible to find the best policy at the cheapest price.