- The difference between what your car is worth at the time of being written-off, stolen or hi-jacked, and what you may still owe the financial institution for it.
- Balloon payments and residual values.
If the car we comprehensively insure for you is financed by a financial institution and it’s written-off, stolen or hi-jacked, then credit shortfall covers any amount that you may still owe the financer after we’ve paid out the value of the car. This cover must be stated on your policy schedule and an additional premium is payable.