Keep your deposit safe.
Efficient service delivery is sometimes ruined by all the red tape and bureaucracy. There are things that can’t be put on hold while the paperwork is being sorted out. Like your monthly instalments.
What is Instalment Protection?
When a claim for a stolen or written-off vehicle with your underlying insurer takes more than 60 days to process, we will pay your monthly vehicle instalment up to R5 000 for up to 3 months.
What policy does an Instalment Protection benefit fall under?
Instalment Protection is yet another way Bidvest Insurance keeps you and your car covered. This benefit is offered to you as part of our Shortfall Protection insurance policy.
What else does Shortfall Cover provide?
We don’t just protect your instalments. Your shortfall cover includes other benefits:
- 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.
- Excess Protection: Bidvest Insurance benefits protect you with up to R10 000 cover towards your underlying excess, as outlined in your insurance policy.
- Additional Accessories: Get 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 a Loyalty Bonus of up to R10 000, to put towards replacing your vehicle as part of Bidvest Insurance Shortfall cover benefits.
- Unintentional Violation Cover: When things happen without you intending for them to, we have you covered. Should your underlying insurer not pay for your stolen or written off vehicle due to an unintentional violation we will provide cover.
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.
Time waits for no one. The same can be said for your instalments. Bidvest Insurance is committed to protecting you and your wallet, every day.
