Skip to main content

Return to Invoice GAP insurance

Don't be out of pocket if your vehicle is written off or stolen

Protect yourself from the unexpected

As vehicles depreciate in value over time, the amount motor insurance companies pay out if your vehicle is written off or stolen could be lower than the price you paid. 

In the unfortunate event that this happens, you could be left with an outstanding balance to pay to settle your finance agreement for a vehicle you no longer have the use of. 

Return to invoice GAP insurance covers the difference between the insurance companies pay out and either the price you paid for the vehicle or the outstanding balance on your finance agreement, whichever is higher.

Did you know that over 384,000 vehicles are written off in the UK every year?*

Customer benefits

Product benefits

Prices start at £7 per month

Protects the equity in your vehicle including your deposit

You’re covered for the price you paid for the vehicle or the outstanding finance, whichever is higher

RTI GAP covers you for a maximum of 36 months

Includes £250 towards your motor insurance policy excess

We’ll negotiate with your insurer on your behalf to get the best settlement price for your vehicle

Eligibility and exclusions 

Are you eligible for Return to Invoice GAP cover?

  • You must have a live finance agreement with Close Brothers Motor Finance when your policy starts
  • Your vehicle must be less than 12 years old when your policy starts
  • Your vehicle must have been purchased for less than £40,000
  • You must hold a valid driving licence to drive your vehicle
  • You must be the named customer in your finance agreement when your policy starts.
  • Your vehicle must have been purchased less than 30 days before your policy starts
  • Your vehicle must be principally used in the United Kingdom

What is not insured?

  • Loss occurring while your vehicle is not covered by a comprehensive motor insurance policy
  • Loss occurring while using your vehicle for competition, racing, pace-making, reliability trials speed testing or off-road
  • Loss occurring where the driver does not hold a valid driving licence
  • Loss occurring if your vehicle is stolen by someone with lawful access to its keys
  • Loss occurring where the driver is under the influence of alcohol or drugs
  • Where the insurer of your vehicle offers a replacement as settlement of your claim
  • Any excess under your comprehensive motor insurance over the first £250
  • Any claim where there is fraud or dishonesty
A-plan

Covea Insurance

Our Return to Invoice GAP insurance provider is Covea Insurance PLC, we are acting on behalf of Covea as an Insurance intermediary. We arrange the policy with the insurer on your behalf. 

FAQs

We’ve compiled a list of frequently asked questions below.

The maximum benefit you can claim on the policy is dependent on the price you paid for your vehicle. This is outlined in the table below.

RTI table.PNG

 

This monthly policy is separate to your finance agreement with us and should you wish to proceed, the premium will be collected by direct debit monthly in arrears by Covea Insurance plc who are our chosen insurance provider.

RTI GAP insurance will cover you for a maximum of 36 months, even if the finance is settled before then.

You can cancel within 14 days of the policy start date and we will refund any premium paid in full unless a claim has been made or we have been notified of an incident that could give rise to a claim against this policy. After 14 days you can still cancel your policy at any time by either writing to our insurance partners, Covea Insurance plc, 50 Kings Hill Avenue, West Malling, Kent, ME19 4JX or by phoning the team on 0330 134 8205.

Great Britain, Northern Ireland, the Channel Islands and the Isle of Man.  Cover is extended to countries in the European Economic Area whilst your insured vehicle is being driven by you in one of these countries subject to your comprehensive vehicle insurance policy being extended for such use. 

There are a number of vehicles that are not eligible for RTI GAP, these include: a vehicle not shown in Glass’s Guide, a motor scooter/moped, an invalid carrier, a kit car, a replica car, or a grey import.  There are also a number of manufacturer brands not eligible for this cover including: Aston Martin, Bentley, Bristol, Bugatti,  Cosworth, DeTomaso, Dorchester, Ferrari, Ginetta, Hummer, Honda NSX models, Lamborghini, Lancia, Maserati, Maybach, Mitsubishi 3000GT, Marcos, Noble, Rolls Royce, TVR and any American make of vehicle unless manufactured as a right hand drive for the United Kingdom. 

To make a claim please either write to our insurance provider at: 
Creditor Claims Department, Covea Insurance plc, 50 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JX 
or phone the team on: 0330 134 8205 
Once Covea Insurance have been notified of a claim they will send you a claim form that will need to be completed and returned.

* Source: https://www.directlinegroup.com/media/news/brand/2017/26052017.aspx

Close Brothers Motor Finance introduce you to a limited number of insurance providers and may receive a commission for the introduction.

Close Brothers Motor Finance is a trading style of Close Brothers Limited (‘CBL’), a subsidiary of Close Brothers Group plc. CBL is registered in England and Wales with company number 195626 and registered office at 10 Crown Place, London EC2A 4FT. Close Brothers Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Firm reference number 124750.