In the event of the total loss of your vehicle (write-off or theft) TRAFICC Return To Invoice (RTI) helps you to recover the depreciated value of your vehicle, helping you get back what you originally paid for the vehicle and protecting your investment.
Why do I need this?
The total loss of your vehicle does not need to be an untimely financial disaster. TRAFICC RTI covers the difference between the original invoice value of your vehicle and what your insurance company pays out (usually retail or market value). The moment you drive your vehicle off the showroom floor it loses value – as much as 30% in the first three months. Because one can’t insure for the original purchase price – normally you insure for the market or retail value – TRAFICC RTI is the best protection for both new and pre-owned vehicle buyers and is available on both cash and finance deals.
In today’s world it is most likely that the pay-out you receive from your vehicle insurance will be insufficient to purchase a replacement vehicle of the same make or type without having to substantially extend your financial commitments or take more money out of your pocket.
Thus, when the unexpected happens and you are faced with an unplanned replacement of your vehicle, TRAFICC RTI will better position you to get back to the position when you bought your vehicle i.e. suffer NO loss!!
Let’s look at the features & benefits in more detail
- Available to cash and finance buyers
- Maximum Sum Insured : R 2,000,000
- Maximum Claim: R 350,000
- Maximum Term: 3 years
- Cover can be purchased within 30 days of taking ownership of the vehicle
- Vehicle must be <7 years old
- Vehicle must have covered < 150,000 km
- LOYALTY BONUS – this benefit is included in your premium at no additional cost. When your vehicle is written off or stolen and you replace the vehicle, within 3 months of the loss, at the dealership (or within the dealership group) where you originally purchased the vehicle, then the loyalty bonus pays the dealership an amount towards the replacement vehicle of your choice. The loyalty bonus is:
- 3% of Original Sum insured with a
- minimum of R 4,000
- maximum of R 18,000 payable
- The EXCESS will be paid. Don’t forget the excess! Even if you take out TRAFICC RTI Insurance you must remember that you are still liable for the excess on your comprehensive policy. In the event of a claim, TRAFICC RTI will pay up to a maximum of R 3,000 of the excess payable to the comprehensive insurer.
- Towing & Storage – R 750 will be paid toward the combined cost in the event of total loss.
You paid R 151,900 for your vehicle and at the time of write-off the market value of your vehicle was only R 94,150 resulting in a loss on your investment of R 57, 750
TRAFICC Return To Invoice pays up to R 61,500* + R 4,557**
(*includes up to R 3,000 towards the excess and R 750 for towing and storage if applicable
**LOYALTY BONUS: If the vehicle is replaced at the dealership where you bought the original vehicle – an additional amount of R 4,557 would be payable as a loyalty bonus to facilitate you getting back onto the road.)
TRAFICC RTI is ideal protection
- It’s easy – all you need is a comprehensive insurance on your vehicle.
- It makes financial sense – if you paid cash or a large deposit on your vehicle, TRAFICC RTI helps you replace what you lost.
- It’s convenient – you can either pay cash or we can set up a debit order.
- It’s accessible – anyone who has a valid driver’s licence can get it.
- It’s immediate – you’re covered from the moment you sign.
Plus this FANTASTIC additional option
- RETRENCHMENT BENEFIT. You still need to pay the bills if you get retrenched. TRAFICC’s Retrenchment Benefit pays the installments (as defined) while you are unemployed due to retrenchment, for a maximum of 6 installments per retrenchment.
What, where, how & exclusions
- TRAFICC RTI covers roadworthy light motor & delivery vehicles, mini busses, panel vans & motorcycles with a gross vehicle mass not exceeding 3 500kg.
- TRAFICC RTI covers you in South Africa, Botswana, Lesotho, Namibia, Zimbabwe & Mozambique
- FACT – Every vehicle loses value, some more than others and some more quickly than others. So at the time you suffer a total loss the difference between what you paid for your vehicle and what the insurance valuation is, may be tens of thousands of rands.
- TRAFICC RTI helps you get back to where you started
- TRAFICC RTI makes it much, much easier to replace your vehicle with a similar model
- This is the best protection for both new and pre-owned vehicle buyers
- TRAFICC RTI is a 3 year policy
This is for information purposes only and in no way forms part of the insurance policy. Full terms and conditions are stated in the insurance certificate.