Redefines protection for your car

You can now protect the full value of your car from depreciation with an affordable, one-time upfront payment, so that you can easily purchase a new replacement vehicle in the event of total loss.

Guaranteed Asset Protection – Return to Insured Value (GAP-RTIV)

With GAP-RTIV cover, you will have full protection against any unforeseen situation or disruption. GAP-RTIV protects you against possible outstanding hire purchase loan (especially for car brands with high deterioration of value after purchase) and enables you to purchase a replacement vehicle.

In the event of a total loss of your vehicle following damage, fire or theft, GAP-RTIV covers the difference between the claim payout you get from your comprehensive motor insurance policy and the insured value of your vehicle at the time of purchase of GAP-RTIV policy.

Key benefits explained
  • Full coverage with a total protection plan

    Covers the financial shortfall up to insured value of the vehicle at the time of purchase of GAP-RTIV policy

  • Pays on top of comprehensive motor insurance payout

    GAP-RTIV pays the difference between the comprehensive motor insurance payout and the insured value of your vehicle at the time of purchase of GAP-RTIV policy

  • Prompt claim processing and settlement

    Fast claim settlement following the receipt of required documents and full settlement of comprehensive motor insurance claim

  • Simple enrollment

    One-time upfront insurance premium for up to 5 years coverage

Interested in this product?
How does GAP-RTIV cover work?

Scenario 1

Mary has her 3 years old car stolen.

Mary bought her car 3 years ago for RM100,000 and insured it with comprehensive motor insurance and GAP-RTIV cover for the same value.

Following the theft of her car, her motor insurance claim payout was RM70,000 based on the sum insured.

Her GAP-RTIV cover payout allows her to buy a new car of equal value. She does not have to opt for a cheaper car.

Scenario 2

Peter damaged his 3 years old MPV in an accident.

The accident results in his MPV being declared a total loss. He received RM70,000 from his motor insurance payout.

Thanks to the GAP-RTIV cover which he has signed up when he bought the MPV and insured it for RM100,000, he received additional RM30,000 on top of his motor insurance payout. He could buy a comparable new MPV without any impact on his own financial situation.

What we do not cover

1. Any total loss which is not subject of a claim payment under the damage, fire section of a comprehensive motor insurance policy

2. Natural catastrophe unless the insured is covered by a natural catastrophe comprehensive motor insurance rider

3. Excluded vehicles:

- Over 3,500 kg gross weight

- Modified from the manufacturer’s specification.

4. Owned temporarily or otherwise (resulting from trade-in or acquisition for the purposes of release) by a lease company or business formed for the purposes of selling or servicing motor vehicles.

5. Which are classified as non-passenger cars, motor caravans, caravans, kit cars or replica cars.

6. Grey import or parallel import vehicles.

For the full list of Benefits and Exclusions, kindly refer to our Policy Wording, available for download below

Important Product Details
Underwritten by AXA Affin General Insurance Berhad