Additional vehicle cover options available from Creditplus

Approved by the Car Finance Advisory Board

Here we discuss the additional types of vehicle protection insurance available to you when you purchase your new vehicle.

I'm taking out finance on a new vehicle and I want extra protection for my vehicle - what can you offer?

You've probably just made one of the biggest decisions you'll ever make to purchase a new car, so you're going to want to make sure you're covered and look after it in every way you can. In this section we have chosen to outline some of the additional vehicle protection products available to you and your new vehicle.

GAP Insurance

Guaranteed Asset Protection (GAP) Insurance is an area which many customers find confusing. With this in mind we've put together a collection of some of the most frequently asked questions on GAP Insurance to help you.

In this section: GAP Insurance

What is RTI?

Return to Invoice Insurance, also referred to as RTI, is an insurance which will cover the difference between your vehicle value when it's written off and the original invoice price you paid. This will include any level of deposit that you paid when purchasing the vehicle.

Why would I need RTI Insurance?

RTI Insurance is extremely useful if your car is declared a write off due to an accident, fire or theft.

Often, insurance companies won't match the original price that you paid for the vehicle and are only happy to give you the current market value. This still leaves you paying the full price on your car finance agreement.

In addition, if you placed a deposit into the vehicle this will not be returned unless you use RTI Insurance.

Example of how RTI works:

  • Cost of vehicle - £12,000
  • Insurance company pays £6,000 out after claim
  • Shortfall of £6,000
  • RTI will cover the £6,000 shortfall, not leaving you out of pocket

What is MOT Test Insurance?

MOT Test Insurance will cover you for the cost of repairs, replacement or adjustment to specified parts listed in a Notification of Refusal to issue an MOT Certificate.

What is Paint Protection?

Paint Protection - also referred to as LifeShine - will help protect the paintwork on the exterior of your vehicle from UV rays, industrial dirt, acid rain and general detergents. The paintwork is treated with a unique protective coating which will enhance the paint's shine and ensure maximum resistance.

What is Alloy Wheel Insurance?

Alloy Wheel Insurance, often referred to as Smart Insurance, will protect you against any small cosmetic damage to your vehicle. This will usually include stone chips, scratches, small dents, and alloy wheel scuffs. These small types of claims don't generally impact your premium; however it's always best to check with your insurance provider to be certain.

What is Key Cover Insurance?

Key Cover Insurance is designed to assist and help you should you lose or have your car keys stolen. Some car keys can cost hundreds of pounds to replace with an additional call out fee; Key Cover Insurance protects you from this cost.

If you have any additional questions which are not listed here, please contact us by using our LiveChat function to the right of this page.

Published: 16/05/2016
Last Updated:31/01/2019
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If you require further assistance, our team of Customer Advisors are here to help. We're open six days a week - you can view our opening hours here - and we're more than happy to answer your questions.