Shortfall Protection

The shortfall protection product is directly linked to a vehicle. It can be sold in a stand-alone form or can be packaged with the deposit protection product and/or excess protection product.

The vehicle must be a total loss and the benefit paid is the difference between the outstanding debt and the market value of the vehicle. There are no age limits within this policy. The usual maximum benefit under this policy is R200 000. An unintentional violation benefit is included and this is paid when a client unintentionally violates their underlying comprehensive insurance policy.

This product is underwritten in the short term license.