This benefit pays out the difference between the comprehensive insurance payout and any amount you still owe to the finance institution on your vehicle in the event that your vehicle is written off or stolen and not recovered.
We have included our personal accident cover that provides cover for any personal accident that results in the accidental death or total permanent disability of the registered owner of the vehicle and/or for the accidental exposure to HIV. This benefit is not dependent on the vehicle to be written off and will continue should you no longer have a shortfall on your finance amount in the event of a write off.
In the event that your vehicle is written off and your comprehensive vehicle insurance policy approved your claim, our Excess Protector benefit will pay you up to the selected amount to assist with the excess you paid on your comprehensive vehicle insurance claim.
In the event that your vehicle is written off and your comprehensive vehicle insurance policy is in the process of reviewing your claim, our Installment Protector benefit will pay you up to 2 months on your monthly vehicle installments until your comprehensive vehicle insurance claim has been finalised.
- stolen and not recovered; or
- stolen and recovered but damaged and not economical to repair, and written off; or
- accidentally damaged but not economical to repair, and written off and your comprehensive vehicle insurance claim payment result in a shortfall between the claim payment amount and the settlement balance of the credit agreement this policy will cover the shortfall.
- the vehicle must be comprehensively insured.
- the vehicle must be financed.