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Matt406

Hi Folks,

Generally what’s the view on this RTI insurance? I’ve been offered it for €499 to cover a new car for 3 years. I declined it on the day I collected the car but I have a 30 day period during which I can still take it out.

Typically if a car is declared a write-off in the first 12 months does fully comprehensive insurance return you to a new car or just the market value of the car?? Is this market value based on the lowest quote that they can get from a dealer for a replacement car?

Any thoughts or experiences on this product would be welcome. Thanks.

talla

Have experience of this in the last two months.
Fully comp will payout the market value of the car including any depreciation so you won't get near the invoice price. You'll also lose money on any optional extras (but will be factored into any settlement).

I recently had a car written off, insurance and salvage settlement was just under 90% of original invoice price (only 4 months old).

Shortfall insurance brought me back up to invoice price (less delivery charge - they wouldn't cover this).

flamegrill

It normally covers your excess too. I'm getting it on a new car that I ordered and it's included in the monthly PCP payment which is handier than paying a lump sum at the start.

mickdw

Seems like a worthwhile product.
If you were to write off a car nearing 3 years old, it would really set you up.

blueband

Sounds interesting never heard of it before. I would add that some insurance companies policies include a brand new car in replacement for a car written off in the first 12 months.
Not all companies offer it and not on all policies so check with individual companies offer in the small print.
Friend of mine had this happen, her mother was T-boned at a dual carriageway intersection, luckily not seriously injured but car was a write off, it was a 13 plate and it happened in Dec. Insurance company replaced it with a 14 plate in January