Owning a vehicle is an investment, but unexpected events like theft or accidents lead to financial burdens. Our Credit Shortfall Eraser ensures that you are not left with hefty debt if your vehicle is written off or stolen and not recovered.
In the unfortunate event that your insured vehicle is declared a total loss due to irreparable damage or theft, Motorvaps’ Credit Shortfall steps in to cover the financial gap between the retail value of the vehicle at the time of the incident and the remaining balance on your finance agreement. This way, you can settle your loan without worrying about a financial shortfall.
Please Note: You must have an underlying comprehensive insurance policy to be eligible for our Credit Shortfall Eraser.
Upgrade your Credit Shortfall plan with optional extras designed to offer even greater financial protection.
This optional cover ensures that if you have a valid Credit Shortfall or Return to Value claim, you’re reimbursed for the original deposit you made when purchasing your vehicle. This means that even if your car is declared a total loss, you won’t lose your initial deposit.
If your vehicle is written off and you have a valid claim on your underlying comprehensive insurance policy, Return to Value will pay the difference between the car’s retail value at the time of the loss and its original purchase price when the policy began. This optional add-on helps protect you from losses caused by depreciation.
We offer more ways to safeguard your vehicle with our range of specialised value-added cover options tailored to your needs.
Our Mechanical Warranty provides cover for your vehicle’s components should they experience a sudden and unforeseen mechanical failure. This cover provides the much-needed financial relief when the repair or replacement of the failed component gets incredibly expensive.
A Service Plan involves the routine upkeep of your vehicle to keep your vehicle in optimum running condition. Our Service Plan provides cover for your vehicle’s major and minor service items, including labour. This cover provides the much-needed financial relief when your vehicle services become too expensive.
Damage to your vehicle’s tyres is inevitable and can be incredibly expensive. Tyre & Rim provides cover for your vehicle’s tyres and rims if they sustain damage on any maintained South African Road as a result of an unforeseen road hazard.
Sometimes the smallest of scratches and dents are unavoidable. With Body and Interior cover, your vehicle will be covered against those minor scratches and dents that occur from day-to-day driving, getting it back to showroom condition.
The Maintenance Plan offers flexible and extensive cover for Scheduled Servicing, Routine Maintenance and Preventative Maintenance. Designed to keep your vehicle in pristine running condition, this plan provides valuable cover and benefits, ensuring your car receives the care it deserves.
Owning a vehicle comes with financial obligations, especially when it’s financed. Our Credit Shortfall Eraser ensures you’re protected if your vehicle is written off or stolen and not recovered.
DEALER
POLICY HOLDER
SERVICE PROVIDER
Motorvaps (Pty) Ltd is a brand of Moving Capital (Pty) Ltd. Administered by MVIA (Pty) Ltd, an authorised financial service provider (FSP 45790). Intermediary Services provided by approved intermediaries and MVIA Services (Pty) Ltd, (FSP 46967) an authorised provider. Insurance products are underwritten by OMART Insure (FSP49551). Non-financial products are not regulated by the FSCA.
