Our Shortfall Plus policy protects you if your outstanding loan amount is higher than your car’s value when it is stolen and not recovered or damaged beyond economical repair. This is a standalone policy that is purchased in addition to a Volkswagen Comprehensive Insurance policy.
Why choose Shortfall Plus?
Your car’s value depreciates over time, and a comprehensive insurance policy will only pay out the value at the time of loss. This means you might have to finance the shortfall.
Policy benefits
Shortfall Cover:
This benefit provides cover if your car is a total loss due to theft, hi-jacking or accidental damage and the outstanding loan balance is more than your car’s value at time of loss.
Violation of Conditions Cover:
This benefit provides cover if your insurance company rejects your claim because you unintentionally failed to abide by policy conditions.
Bodyline Maintenance Cover:
This optional benefit provides cover in the event of minor damages such as dents or scratches to your car.
Loyalty Bonus:
This benefit provides cover that if your car is stolen and not recovered or damaged beyond economical repair, we will pay a fixed amount of R5 000 towards your new Volkswagen if you replace your car within three months from an approved Volkswagen dealer.
Personal Accident:
This benefit provides cover if anyone dies or is permanently injured or disabled while travelling in the car that is insured against this policy.
Terms and conditions apply
1. Volkswagen Financial Services Shortfall Plus Cover is provided by Volkswagen Financial Services South Africa (Pty)Ltd(Reg. No. 2013/133698/07),(Vat No. 4760263576), an authorised Financial Services Provider (FSP: 44827) and Credit Provider (NCRCP No: 6635), and underwritten by Hollard Insurance Company, an authorised financial services provider, Reg. No. 1952/003004/06.
2. Please note that this is not the policy wording. Please read the policy wording for the full benefits as well as the comprehensive terms and conditions of this cover.