uying a new car is an exciting moment. You finally drive away in a vehicle that’s brand new, reliable and exactly what you wanted. But many new car buyers are surprised to learn how quickly a new vehicle can lose value. In fact, most new cars can lose a significant portion of their value within the first year.

That’s where Return to Invoice (RTI) Gap Insurance comes in. At Ping Insure, we offer Combined RTI Gap Insurance, designed to protect you financially if the unexpected happens.

What Is Return to Invoice Gap Insurance?

Return to Invoice Gap Insurance is designed to cover the difference between what your motor insurer pays out if your vehicle is written off and the original price you paid for the car.

Standard motor insurance only pays the current market value of your vehicle at the time of the claim. Because cars depreciate quickly, this amount can often be much lower than the price you paid.

RTI Gap Insurance bridges that gap.

For example, imagine you buy a new car for £30,000. Two years later, the vehicle is written off following an accident or theft. Your motor insurer might value the car at £22,000 based on market value at the time.

Without Gap Insurance, you would receive £22,000 and potentially have to cover the remaining difference yourself.

With Return to Invoice Gap Insurance, the policy would cover the £8,000 shortfall, returning you to the original invoice price of the vehicle.

Why Depreciation Matters for New Car Buyers

Depreciation is the main reason Gap Insurance exists. The moment a new car leaves the showroom, it begins to lose value.

Many vehicles can lose 15 to 35 percent of their value in the first year alone. This means that if your car is written off early in ownership, the settlement from your insurer may not be enough to replace it with the same model again.

This can leave you in a difficult position financially, particularly if you still owe money on a finance agreement.

RTI Gap Insurance helps ensure that depreciation does not leave you out of pocket.

What Makes Ping Insure Combined RTI Gap Insurance Different?

At Ping Insure, our Combined RTI Gap Insurance is designed to offer broader protection for new car buyers.

Rather than covering only the difference between the motor insurance payout and the invoice price, our combined policy covers multiple financial gaps that can arise after a write off.

Our policy covers the gap between:

• Your motor insurer’s settlement
• The original price you paid for the vehicle
• Any outstanding finance you still owe

This means you are protected across several potential financial scenarios.

For example, if the amount you still owe on finance is higher than the insurer’s payout, our policy can help clear that difference. If the original invoice price is higher than both the payout and the finance settlement, the policy can also help bridge that gap.

This combined protection gives you peace of mind that whichever financial gap appears, you are covered.

When Would RTI Gap Insurance Pay Out?

Return to Invoice Gap Insurance typically pays out if your vehicle is written off or stolen and not recovered.

A write off usually occurs when the cost of repairing the car is greater than its current value. In these situations, the insurer declares the vehicle a total loss and pays the market value instead of repairing it.

RTI Gap Insurance then steps in to cover the financial difference according to the policy terms.

Who Should Consider RTI Gap Insurance?

RTI Gap Insurance is particularly useful for certain types of car buyers.

You may benefit from this cover if you:

• Bought a brand new vehicle
• Paid a large upfront amount
• Purchased your car using finance or a loan
• Want to protect the full value of your purchase
• Plan to keep the vehicle for several years

Many buyers assume their standard car insurance will be enough, but without Gap Insurance you may find the payout is not sufficient to replace your car with a similar model.

With Ping Insure Combined RTI Gap Insurance, the policy would cover the shortfall so you are not left paying the remaining balance yourself. If the invoice price gap is larger, the policy can also work towards returning you to the original price paid.

Peace of Mind for the Unexpected

No driver expects their vehicle to be written off, but accidents, theft and unforeseen events can happen at any time.

Gap Insurance offers a simple way to protect yourself from the financial impact of vehicle depreciation. Instead of worrying about the difference between your insurance settlement and what you originally paid, you know there is additional cover in place.

At Ping Insure, we focus on making this protection simple, affordable and easy to arrange, helping new car buyers feel confident about their purchase.

Is Gap Insurance Worth It?

For many new car buyers, the answer is yes. The cost of Gap Insurance is typically small compared with the potential financial loss caused by depreciation.

If your car were written off early in ownership, the difference between the insurer’s payout and the original purchase price could be several thousand pounds.

Combined RTI Gap Insurance ensures that this financial gap does not become your responsibility.

Protect Your New Car with Ping Insure

Buying a new car should be exciting, not stressful. With Ping Insure Combined RTI Gap Insurance, you can protect your investment and drive with confidence knowing you are covered if the unexpected happens.

If you want to safeguard the value of your vehicle and avoid being left out of pocket, get a quick quote with Ping Insure today and see how simple it is to protect your new car.