Stay safe from unexpected costs.
Unfortunate events always have the worst timing. The one with financial implications usually happens when you don’t have the money you need to resolve it. Your insurance covers you but there’s usually still an amount you have to pay upfront first!
What is Excess Protection?
While insurance companies do pay for valid claims involving car accidents, there is a deductible you are required to pay too. This serves as an incentive against carelessness on the road and protects insurers from people who file frivolous insurance claims. With excess protection, you get paid up to R10 000 to cover your excess payment, meaning no extra bills for you!
What policy does Excess Protection benefit fall under?
Excess Protection is a benefit that is part of our Shortfall cover. We understand that your shortfall might not be the only cost that comes with your car being stolen or written off . If your car is stolen or written off, you’ll need to make a claim. Excess Protection covers you under our Shortfall Cover policy.
What else does Shortfall Cover provide?
Your shortall cover policy does not only provide Excess Protection. It gives you more benefits like:
- The main benefit of having Shortfall Protection is that it covers the difference between what your insurance policy pays out versus what you still might owe to your bank in repayments. More often than not, the payout is less than what you owe the bank, leaving you in debt, AND without a car.
- Additional Accessories: Bidvest Insurance gives you up to R10 000 cover towards any accessories fitted on the vehicle that have not been specified on your underlying insurance policy.
- Loyalty Bonus: You get up to R10 000 Loyalty Bonus towards replacing your vehicle as part of Bidvest Insurance Shortfall cover benefits.
- Unintentional Violation Cover: Sometimes things just happen without us intending for them to. Should your underlying insurer not pay for your stolen or written off vehicle due to an unintentional violation we will provide cover.
- Instalment Protection: If your claim for a stolen or written off vehicle with your underlying insurer takes more than 60 days, we will then pay your monthly vehicle instalment up to R5 000 for up to 3 months.
How much do I pay for Shortfall Cover?
Your monthly premium is tailored to you and your car. We will quote on your specific vehicle.
How do I claim from Shortfall Cover?
You can contact us on 0861 66 88 88 or email shortfallclaims@bidvestinsurance.co.za to notify us of the incident. The claims assessor will then guide you through the claims process.
Stop worrying about your insurance excess. Shortfall Cover from Bidvest Insurance has you covered.
