Shortfall Protection Helps to Bridge the Gap
A car really is an amazing asset to own as it unlocks so much opportunity and potential by providing freedom of movement. An unfortunate reality of owning a car, however, is that in most cases of total loss and after your insurance payout, you will still be left with an outstanding amount owing to the bank. This is referred to as the Shortfall and we have an extremely powerful product that helps to bridge this gap, as shown in the below story shared by our customer, Mr Moodley:
“I was travelling home from my parents house one evening, when a car on the opposite side of the road suddenly swerved into my lane and we had a head on collision! Luckily no one was injured, but my car was a write off, I’d only had it a year!
After my insurance payout there was still an outstanding amount of R26,500 that had to be paid, I panicked – I didn’t have that sort of cash lying around! But after chatting to Bidvest Insurance about my shortfall policy I had luckily taken out, the whole amount was covered so I didn’t have to pay a thing! Thank you Bidvest Insurance, I’m now back on the road.”
Find out more about Shortfall Protection from Bidvest Insurance here