Mercedes-Benz Malaysia’s Return To Invoice insurance bridges gap between payout and purchase price

Mercedes-Benz Malaysia’s Return To Invoice insurance bridges gap between payout and purchase price

The name may be Comprehensive Motor Insurance, but if you haven’t already realised, insurance payouts in the event of total loss or theft never matches what you paid for the vehicle. The payout, which takes into account depreciation, might not even be enough to offset the hire purchase loan, which is extra bad news for the already grieving owner.

This is where Return To Invoice (RTI) insurance, now made available by Mercedes-Benz Services Malaysia, comes in handy. RTI insurance – purchased on top of comprehensive motor insurance – essentially bridges the regular insurance settlement amount (current market value of the car) and the original purchase price of the car. RTI insurance covers total loss, theft and fire.

Mercedes-Benz Malaysia’s Return To Invoice insurance bridges gap between payout and purchase price

With RTI coverage, you will now have the same amount of money to spend on a replacement car as you originally spent on the car that was damaged/stolen. The above graphic by Mercedes-Benz Services Malaysia explains it clearly.

RTI insurance, also known as GAP (Guaranteed Asset Protection) insurance, is not a new concept and it has been offered in other markets. Lately, car brands have been working with insurers to offer this sort of protection in Malaysia – RTI-GAP Insurance by Nissan and Peugeot Protect are examples. Both Tan Chong and Naza are working with AXA Affin for their RTI insurance offerings. Mercedes-Benz Services Malaysia’s RTI plan is underwritten by AXA Affin.

Looking to sell your car? Sell it with Carro.

Certified Pre-Owned - 1 Year Warranty

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Danny Tan

Danny Tan loves driving as much as he loves a certain herbal meat soup, and sweet engine music as much as drum beats. He has been in the auto industry since 2006, previously filling the pages of two motoring magazines before joining this website. Enjoys detailing the experience more than the technical details.

 

Comments

  • Ollie on Mar 16, 2017 at 2:02 pm

    Ok cool. It depends on the price of the excess to determine cost-benefit. Remains to be seen if its exorbitant or sensible.

    Like or Dislike: Thumb up 3 Thumb down 1
    • Only useful if you live in high crime area or you like to drive drunk. Nobody buys a luxury car expecting it to be lost or totalled in 3 years.

      BMW have this offer with Allianz for first year only but without extra premium.

      Like or Dislike: Thumb up 5 Thumb down 3
  • Yuppie on Mar 16, 2017 at 2:14 pm

    Bought under company akaun so no problem.

    Like or Dislike: Thumb up 9 Thumb down 4
  • joker on Mar 16, 2017 at 2:36 pm

    One thing we believe, insurance company will never do losing money business. They will earn as much as they can from the policy holder.

    Like or Dislike: Thumb up 17 Thumb down 1
  • passion on Mar 16, 2017 at 2:56 pm

    but how much will the premium be? affordable? that’s the catch. too good to be true?

    Like or Dislike: Thumb up 10 Thumb down 2
  • Nothing new on Mar 16, 2017 at 3:28 pm

    Aiyo….long time have Liao ma! ‘Agreed value clause’!

    Like or Dislike: Thumb up 7 Thumb down 1
  • basically insurance on top of insurance..

    Like or Dislike: Thumb up 5 Thumb down 1
  • Not Toyota Fan on Mar 16, 2017 at 3:46 pm

    Isn’t car insurance supposed to start deregulation this year? How come no news?

    Like or Dislike: Thumb up 5 Thumb down 2
    • alldisc on Mar 17, 2017 at 9:35 am

      gradually. this will apply to premium prices.

      example to insure a 3 yrs old Camry for 100k. before this the premium calculation is the same for all insurance cimpanies as per bank negara guideline.

      unregulated means insurance A, B and C all have different pricings. but in my knowledge cheap doesnt necessarily means better.

      Like or Dislike: Thumb up 2 Thumb down 0
  • Mikey on Mar 16, 2017 at 4:56 pm

    The cat is out of the bag now. Most of us know insurance company do NOT pay full when your car is lost/fire due to depreciation.

    It is good that car& insurance companies are offering its customers an alternative ie through a scheme call RTI.

    As customers, U are hereby told by this site that U have the Option 2 purchase the scheme or take the Risk( Caveat Emptor).

    At least U have a choice 2 cover or NOT 2 cover. Ultimately U are the one 2 decide. Choose wisely & don’t complaint later. There is no such thing as FREE lunch.

    Like or Dislike: Thumb up 9 Thumb down 3
 

Add a comment

required

required