What’s the Difference Between Deposit Protector and Shortfall Insurance?

Discover two powerful products that you’ll want to have on your side should disaster strike.

Picture this: Your car has just been stolen or written off. It’s a traumatic or at best, a frustrating situation. At least you know you’ve got comprehensive car insurance to cover you. However, it’s only once you’ve submitted your claim, that you learn that you don’t always get paid out in full to cover your entire vehicle. Now you’re suddenly left stuck with the admin, the loss, and the bills.

At Bidvest Insurance, we aim to offer a variety of products to help ease the financial burdens that come with car damage or theft. Both our Deposit Protector and Shortfall Insurance plans are a type of gap cover for your vehicle, used in the event of it being written off or stolen. They are both add-on policies that you would take out alongside your comprehensive car insurance plan to help cover costs that might not be covered in a claim.

In the event of your vehicle being written off or stolen, you could benefit from having one or both of these power products in your corner. Take a look at what they can do for you:

With our Deposit Protector policy, we’ll cover the deposit that you have paid towards buying your vehicle, up to a maximum of R300 000. This means that you can get on the road knowing that the deposit you worked so hard to save and pay, is protected. You’ll also receive a R10 000 loyalty bonus towards buying a replacement vehicle from a Bidvest Insurance approved dealership and up to R5 000 car installment protection, paid monthly.

Our Shortfall Insurance plan is a bit more comprehensive and offers protection against unexpected debts in the event of total loss of your vehicle. A key feature is that we’ll cover the difference between your comprehensive insurance pay-out and the amount still owing to the bank that financed your vehicle. You’ll also be covered for up to R10 000 for extras fitted on your vehicle, up to R5 000 car installment protection per month, and up to R10 000 of your comprehensive excess. You’ll also get R10 000 towards a replacement from any of our Bidvest approved dealers.

Our goal is to help prevent you from losing money in an already unfortunate situation. Want to find out more about these powerful products? Our team is happy to talk you through your options. 

Cover for you and for your car.

Bidvest Insurance offers a wide range of insurance products to meet both your personal and vehicular needs.

Insurance options for you:

  • Cyber Rescue
  • Panic Alert
  • Legal Angel
  • Personal Accident Insurance

Insurance options for your car:

  • Scratch and Dent
  • Tyre Angel
  • Theftbuster Plus
  • Warranty
  • Driver Assist
  • Key Angel

Simply complete your details so a Bidvest Insurance consultant can call you back to assist you.

We understand how important your privacy is and will protect your personal information. By providing your details above you are agreeing that we may contact you regarding this quote. This is to ensure that you get great service! To find out more please visit our Privacy Policy.

Latest Articles

Scratches denting your smile?

Scratches denting your smile?

Keep your car looking as good as new. You just got home, and as you’re about to go inside you decide to take one last glance back. This is soon followed by a proud grin. If you own a car, this is a feeling you know all too well. It’s not just a car. It’s your hard...

read more
Going through a divorce?

Going through a divorce?

Don’t lose more than you already have. People are creatures of habit. When it comes to letting go of certain habits and routines that have been part of your life for some time, you’ll probably struggle. That’s the thing about divorce. It’s not just the bond and the...

read more
Roadside Assistance: Don’t get stuck on the side of the road

Roadside Assistance: Don’t get stuck on the side of the road

Roadside Assistance from your Bidvest Insurance Mechanical Warranty policy Roadside assistance is an essential when you’re driving on South African roads. Mechanical Warranty is an insurance policy that puts you and your wellbeing first. Car troubles are a significant...

read more