Protect your pocket with Shortfall insurance cover.

Shortfall Protection provides valuable cover by paying the difference between your comprehensive insurance pay-out and the amount still owing to your finance company, in the event of your car being written off or stolen.

Our Shortfall Protection insurance policy highlights include:

 

  • Up to R10 000 of your comprehensive excess covered
  • R10 000 loyalty bonus towards buying a replacement car
  • Up to R10 000 cover for unspecified extras fitted on car
  • Up to R5 000 car installment protection paid monthly
  • Unintentional violation cover
  • Protection against unexpected debts in the event of total loss of your vehicle
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What Am I Covered For?

Shortfall Protection

Covers the difference between your comprehensive insurance pay-out and what you still owe the bank if your car is stolen or written-off.

Excess Protection

Up to R10 000 cover towards your underlying insurance excess.

Additional Accessories

Up to R10 000 cover towards any accessories fitted on the vehicle that have not been specified on your underlying insurance policy.

Loyalty Bonus

R10 000 towards a replacement vehicle.

Unintentional Violation Cover

Should your underlying insurer not pay for your stolen or written off vehicle due to an unintentional violation we will provide cover.

Instalment Protection

Should your claim for a stolen or written-off vehicle with your underlying insurer take more than 60 days, we will then pay your monthly vehicle instalment up to R5 000 for up to 3 months.

Why Do I Need This Cover?

With comprehensive vehicle insurance in place, you will be fully covered in the event of your vehicle being written off or stolen, right? Unfortunately, no.

In most cases, should your car be stolen or worse, written off in an accident, your insurance pay-out is not likely to cover what you still owe to the bank that financed your vehicle, leaving you in a worse off position financially and without a vehicle. It’s for this very reason that Shortfall Protection is essential when purchasing a vehicle, to ensure you are never left out of pocket should the unexpected happen.

In the event of a claim, this policy will pay towards your vehicle installment for up to three months (to a maximum of R5 000 per month), should your comprehensive claim be delayed. In addition, a loyalty bonus of R10 000 will be paid towards a replacement vehicle when purchased from a Bidvest Insurance approved dealership. And lastly, should your insurance company reject a claim due to you unintentionally violating a condition of your comprehensive insurance policy, we will then pay the claim.

Frequently Asked Questions

What are the Shortfall Protection cover benefits?

  • Up to R10 000 of your comprehensive excess covered
  • R10 000 loyalty bonus towards buying a replacement car
  • Up to R10 000 cover for unspecified extras fitted on car
  • Up to R5 000 car installment protection paid monthly
  • Unintentional violation cover
  • Protection against unexpected debts in the event of total loss of your vehicle

How much does Shortfall Protection cover cost?

Every vehicle is different and we will quote on your specific vehicle. Please fill in your details on the form on this page in order to get a quote.

Why do you need Shortfall Protection cover?

When financing a vehicle you have to consider the additional expenses associated with this including fees, interest, accessories etc…that will leave you owing the bank more then the vehicle value should you have a total loss. Shortfall Protection helps put you back in a position where you can replace your vehicle.

How does Shortfall Protection cover work?

Shortfall Protection provides valuable cover by paying the difference between your comprehensive insurance payout and the amount still owed to the bank if your car is stolen or written-off.

Client Testimonials

“I was travelling home from my parent’s house one evening when a car on the opposite side of the road suddenly swerved into my lane and we had a head-on collision! Luckily no one was injured, but my car was a write-off, I’d only had it a year!

After my insurance payout, there was still an outstanding amount of R26,500 that had to be paid, I panicked – I didn’t have that sort of cash old lying around! But after chatting to Bidvest Insurance about my shortfall policy I had luckily taken out, the whole amount was covered so I didn’t have to pay a thing! Thank you Bidvest Insurance, I’m now back on the road.”

Mr Moodley

Underwritten by Bidvest Insurance Limited, a licensed insurer and an authorised Financial Services Provider, FSP 46395. Please refer to the policy wording for full details of product cover.