Return To Invoice

Return to invoice or RTI cover provides coverage to the policyholder in case the car is stolen or gets damaged and declared a total loss. Under this cover, the insured is eligible to get the full compensation from the insurer that is the last invoice amount of the car under the above-mentioned conditions.

Read more


Compare & Save upto 85%* on Car Insurance
Processing
Get Car Insurance starting
@ only 2094/year#
  • Renew Policy In2 Minutes

  • 20+ Insurers To Choose From

  • 51 Lakh+ Vehicles Insured

#TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

Car Insurance Premium Price

New India Assurance

Cashless Garages

253

Plan type

Comprehensive

Starting from

₹ 2,727

Check premium
Claim Advantage
  • Self-Video Claims
  • Reimbursement Within 7 Working Days For Non-Cashless

National Insurance

Cashless Garages

268

Plan type

Comprehensive

Starting from

₹ 2,757

Check premium
Claim Advantage
  • Self-Video Claims
  • Reimbursement Within 7 Working Days For Non-Cashless

Bajaj Allianz

Cashless Garages

1024

Plan type

Comprehensive

Starting from

₹ 2,868

Check premium
Claim Advantage
  • Spot Claims Upto Rs. 30,000
  • Repair service at select cashless garages

DIGIT

Cashless Garages

Repair Anywhere

Plan type

Comprehensive

Starting from

₹ 2,962

Check premium
Claim Advantage
  • 6-Month Repair Warranty
  • Advance claim payment
  • Free Pick-up & Drop

Oriental Insurance

Cashless Garages

258

Plan type

Comprehensive

Starting from

₹ 3,005

Check premium
Claim Advantage
  • Self-Video Claims
  • Reimbursement Within 7 Working Days For Non-Cashless

DIGIT

Cashless Garages

Repair Anywhere

Plan type

Third Party

Starting from

₹ 2,094

Check premium
Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

Bajaj Allianz

Cashless Garages

1024

Plan type

Third Party

Starting from

₹ 2,094

Check premium
Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

Oriental Insurance

Cashless Garages

258

Plan type

Third Party

Starting from

₹ 2,094

Check premium
Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

National Insurance

Cashless Garages

268

Plan type

Third Party

Starting from

₹ 2,094

Check premium
Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

New India Assurance

Cashless Garages

253

Plan type

Third Party

Starting from

₹ 2,094

Check premium
Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person
See more plans

Above-mentioned prices are for a 7-year-old Maruti WAGON R AVANCE LXI (998 CC) registered in Gurgaon and 15 days before expiry of previous policy

What Is Return To Invoice?

Return to invoice cover is an add-on provided by the insurance company. You have to an extra amount in your car insurance premium to get covered under this add-on. You can purchase this add-on only if he/she is covered under a comprehensive car insurance policy.

How Does the Cover Works for You?

A basic car insurance policy would not fetch you the actual value of your car or the money you’ve invested at the time of purchasing the car. If we consider the rate of depreciation, 5% depreciation is applied on the car which is 6 months old from the day of purchase, 10% for one year.

In such a case, you tend to lose quite a huge amount. But with an invoice return cover, you need not have bear the differences, as the insurer pays the full value of your car until it reaches the age of 3 years.

You might be interested in

When Return to Invoice Cover Comes into the Picture!

This cover comes to your rescue to cover the gap between the IDV and the invoice value of your car. It is an optional cover to fetch you the complete amount of loss when you claim the insurance in case of an accident or total loss.

However, you can avail of this cover at an additional cost. Usually, RTI costs 10% more than your comprehensive car insurance. Moreover, you can avail of this cover until your car reaches a specific age.

How Much Reimbursement can be Availed

At the time of buying car insurance, the insurance provider decides the IDV of your vehicle by applying the depreciation from the invoice value. It is the current market price of your car or the maximum amount up to which you can claim your insurance policy in case of a total loss.

When is the Cover Applicable?

We don't recommend you to buy return to return to invoice car insurance to cover small dents and repair expenses or a crack of the windshield. This cover comes in handy in covering the full value of the vehicle in case of complete damage or loss. It is helpful if your car is stolen or sustains damages beyond repair.

Moreover, if you stay in a theft-prone area or you don’t have a secured parking area, you must consider this cover.

However, you can’t carry the cover always. After a few policy renewals, you’ll have to withdraw this cover. Usually, it is a loss for the insurance provider to pay you a value that is more than the current market value of your vehicle, especially those cars whose wear and tear would have increased over the period.

How Return To Invoice Is Calculated?

While purchasing the car, you pay the on-road price. On-road price includes the ex-showroom price, road tax and registration charges that depend on the make & model of the car. However, if your car is declared a total loss, then if you do not have an RTI add-on cover, the insurer will provide you coverage as per your insured declared value.

So, when you make a claim under the total loss scenario the insurance company compensates for the below-mentioned values:

  • Exshowroom price + Registration Charges + Road tax, when you purchased the brand new car.
  • Current replacement charges that include Ex-showroom price + Road tax + Registation charges.

Return To Invoice: FAQs

Find similar car insurance quotes by body type

Hatchback Sedan SUV MUV
insurance-ka-superhero
Car insurance save up to 85
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Calculate your car IDV
IDV of your vehicle
Calculate IDV
Calculate Again

Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.

Policybazaar lets you compare premium prices from 20+ Insurers!
Compare Prices

Why buy from Policybazaar?

  • 24x7 Claims Assistance
    NEW
  • Cashless Assurance
  • 3-Day Repair Assurance
  • Free Pickup & Drop
  • Self Video Claims
  • Windshield Claims At Home
View Plans

Car insurance articles

Recent Articles
Popular Articles
Is Suspension Covered Under Car Insurance?

29 Jun 2022

A car's suspension helps to maximise the friction between the...
Read more
Know All About Vintage Car Registration Process

28 Jun 2022

No car can beat the beauty of a classic vintage car cruising on...
Read more
How to Save Your Car During Monsoon with Add-On Insurance Covers?

24 Jun 2022

Rains in India are mostly witnessed during the monsoon season. The...
Read more
Know About NCB Certificate in a Car Insurance

21 Jun 2022

With your car insurance policy, you get an additional benefit of a...
Read more
Know Everything About Endorsements in Car Insurance Policy

20 Jun 2022

When you buy a car insurance policy from an insurer, your policy...
Read more
Getting Your Duplicate Car Insurance Policy is Easy-Here’s How!
Losing important documents, such as your car insurance documents, can be daunting. In such a state of affairs, the...
Read more
Multiple Ways To Check Your Car Insurance Status Online
All insurance companies in India now have a digital presence. It not only makes it easier to buy insurance online...
Read more
Transferring Car Insurance from One Person to Another
An integral part of selling a car, for both the buyer and the seller, is ensuring a successful car insurance...
Read more
Check Car Insurance Status Online on Parivahan Sewa/ RTO?
In India, buying car insurance is a compulsion for every car owner. It doesn’t matter if you are an excellent...
Read more
Car Depreciation Calculator
If you are looking to purchase a new car or planning to sell your existing one, it is important to know how...
Read more