What Is RTI Cover in Bike Insurance & Why You Should Consider It?

Owning a motorcycle is a significant investment, especially given the annual price increases. Although it is required by law through the mandatory requirement for motor insurance, correctly selecting the correct cover and add-ons to your motorcycle insurance product can have a dramatic impact on the outcome of a bike insurance claim.

One commonly overlooked add-on to a motorcycle insurance policy is RTI cover, which provides additional protection against financial loss if a motorcycle is stolen or declared a total loss.

What Is RTI (Return to Invoice) Cover in Bike Insurance?

RTI cover in bike insurance (Return to Invoice) is an optional add-on that ensures you receive the original invoice value of your bike if it is stolen or damaged beyond repair.

About the RTI portion of your Policy, the insurance company will pay for the following:

• Ex-showroom price
• Road taxes
• Registration Fees

Thus, the RTI coverage in bike insurance may be a worthwhile add-on if you purchase a newer or more expensive motorcycle.

How RTI Cover Works During a Claim?

When a bicycle is stolen or found to be unusable following an accident, the insurance company will typically determine the loss amount by deducting the bike’s current depreciation value. This can reduce the claim amount by 30% to 50% over a period of only a couple of years.

If you have RTI coverage in bike insurance, however, the claims process will be somewhat different.

• The insurance company will first confirm that the damage meets the definition for “destroyed.”
• Instead of using the depreciated settlement amount, the insurance company will reimburse you for the sale invoice amount.
• Furthermore, sales tax and registration fees will also be included in your reimbursement.

These features make a motor insurance policy much more favoured during the worst-case scenarios.

Key Benefits of Adding RTI Cover to Your Policy

If you add RTI cover to your bike insurance policy, you will enjoy a variety of advantages:

• Comprehensive Coverage: With this type of coverage, you will receive the full purchase price for your bike rather than a lower amount.
• Enhanced Security: This is especially helpful for high-value bicycles.
• Reduced Stress: You can relax knowing your bicycle will retain its full retail value, even as it depreciates over time.

RTI cover provides exceptional protection for bikers seeking maximum peace of mind.

RTI Cover vs Zero Depreciation Cover: Key Differences

Bike insurance covers several things, including RTI and zero-depreciation cover; however, they serve two different purposes and are not interchangeable.

1. For the purpose of repairing a motorcycle, zero depreciation cover allows you to receive a full payout on the cost of replacing parts that are damaged and/or need replacing.
2. For the purpose of providing a motorcycle owner with protection for their bike in the event of complete loss or theft, RTI is the only insurance option.

When Should You Opt for RTI Cover?

While it is not required to have RTI (Return to Invoice) coverage with your motorcycle policy, it is beneficial and recommended in specific cases:

• When your motorcycle is three to five years old or newer.
• When you have an expensive or premium bike.
• When you operate your motorcycle frequently in traffic, you are at a higher risk of accidents.

Choosing RTI cover in bike insurance early ensures you are protected during the most vulnerable years of ownership.

Eligibility, Costs & Limitations of RTI Cover

RTI coverage is an excellent option for your bike; however, it comes with some stipulations.

Eligibility

• Most often, the RTI cover is offered on newer bikes (3-5 years old)
• RTI coverage is only available when you have comprehensive motorcycle coverage.

Cost

• The cost of RTI coverage affects your premium.
• The cost of RTI cover will ultimately depend on the value of your bike and the company you choose.

Limitations

• The RTI cover does not apply to partial damage.
• RTI cover does not apply to older motorcycles.

By understanding these limitations, you can determine if RTI coverage in bike insurance is a good option for your motorcycle insurance.

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Is RTI Cover Worth It for Your Two-Wheeler?

If you want to maximise your return (while having an appropriate safety net) you should definitely consider RTI. The additional cost is nominal; however, it offers protection far above the policy premium.

Conclusion

Choosing the right bike insurance add-ons is critical for enhancing the value of your motorcycle policy. RTI (Replacement Value Coverage) protects bike owners against significant depreciation-related losses. It ensures that, in the event your motorcycle is stolen or declared a total loss, you are reimbursed for its full market value.

When combined with comprehensive motor insurance, RTI adds peace of mind, financial security, and more intelligent protection to the motorcycle owner’s overall risk management strategy.

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