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RSK · 09-05-2008

Originally Posted by cj romeo

Back to invoice doesnt cover it, honest.

How so ? Can you explain because if that's the case I need to take precautions

You're saying that if the car is written off FAC expect both the market value for the vehicle and the statuatory 40% of remaining monthly payments to end the contract. Sadly writing off one's car doesn't terminate the contract !

I'm guessing that return to invoice would work depending on the time at which a write off occured. Suppose the invoice value of a vehicle was £25k and after 1 year it was written off but at a market value of £20K. If the 40% outstanding fees were less than £5k would that not cover it or would the policy not work that way ?

Am genuinely confused because when my dealer tried to sell me GAP and I said that I had back to invoice on my insurance policy he said that I would be OK. Similarly insurance providers infer that the product negates the need for GAP cover in the time period that the RTI is in effect.

09-05-2008	#16 (Post Link)
RSK AO Member Join Date: May 2007 Location: Stony Stratford Posts: 405 Member car: Brera 3.2 Land Rover D3	Re: Insurance for Spider LE Contract Hire Originally Posted by cj romeo Back to invoice doesnt cover it, honest. How so ? Can you explain because if that's the case I need to take precautions You're saying that if the car is written off FAC expect both the market value for the vehicle and the statuatory 40% of remaining monthly payments to end the contract. Sadly writing off one's car doesn't terminate the contract ! I'm guessing that return to invoice would work depending on the time at which a write off occured. Suppose the invoice value of a vehicle was £25k and after 1 year it was written off but at a market value of £20K. If the 40% outstanding fees were less than £5k would that not cover it or would the policy not work that way ? Am genuinely confused because when my dealer tried to sell me GAP and I said that I had back to invoice on my insurance policy he said that I would be OK. Similarly insurance providers infer that the product negates the need for GAP cover in the time period that the RTI is in effect. Last edited by RSK : 09-05-2008 at 08:51.