What are shortfall insurance benefits?
You have been eyeing that car for months while saving up your money for the deposit. You finally get to buy it, after you work out all the financials with the bank.
The only problem is that an accident or hijacking can mean you are left without a car and are scrambling to figure out what to do next while still having to pay it off!
I already have insurance, why would I pay for extra cover?
To keep yourself safe from debt that comes with unexpected costs your insurance does not 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.
Got added extras to your car?
Yet another reason why it is important to have shortfall insurance. Sometimes, your underlying insurance policy does not cover any extras that you may have added to your car, like that nudge bar or shiny mags and a spoiler. Shortfall insurance from Bidvest Insurance pays out up to R10 000 for any unspecified extras fitted on the car.
When you sign up for Shortfall Protection, you can then rest assured that if your car is ever stolen or written off in an accident, the shortfall amount will be covered
An under-appreciated life saver.
Shortfall insurance is a lifesaver especially during occasions when your whole claim is rejected by your car insurance company because you inadvertently violated a policy condition. In any such situation, we will cover the claim for you.
Many people don’t know about shortfall insurance, or they don’t understand its purpose. Shortfall Protection is there to protect you when things go wrong, so you’re never left out of pocket without your wheels!