Our tool for managing your permission to our use of cookies is temporarily offline. Therefore some functionality is missing.
BMW TOP UP COVER (CREDIT SHORTFALL).
Protect yourself from vehicle finance settlement shortfalls.
BMW Top Up Cover (Credit Shortfall).Protect yourself from vehicle finance settlement shortfalls.
Ensure nothing interrupts your journey with insurance engineered to protect you from vehicle finance settlement shortfalls. If your BMW is stolen or written off, we’ll settle the difference between your comprehensive insurance pay-out and the amount owing on your credit agreement. There are four cover options available to you:
TOP UP COVER: OPTIONS.
OPTION 1: BMW TOP UP CORE
Enjoy a simpler, no-frills version of our traditional Top Up Core cover. Top Up Core gives you peace-of-mind with essential cover where you need it most.
What you get:
- Covers vehicle amounts greater than R50,000
- Maximum benefit – R600 000 shortfall
- This product does not include supplementary cover
Product options:
- BMW TOP UP CORE R0 - R100 000
- BMW TOP UP CORE R100 001 - R200 000
- BMW TOP UP CORE R200 001 - R300 000
- BMW TOP UP CORE R300 001 - R600 000
OPTION 2: BMW TOP UP/DEPOSIT COVER
Our classic BMW Top Up insurance solution is expertly tailored to cover you in the event of a shortfall claim – with the option to add a deposit protector for added peace-of-mind.
What you get:
- Covers Vehicle amounts greater than R50,000 and less than R1,5 million
- Maximum benefit – R300 000 shortfall
- Up to R6000 excess benefit towards underlying excess in the event of a valid shortfall claim
- The maximum amount paid out, will be determined by your underlying Comprehensive insurance over on your vehicle.
- The maximum amount paid out, will be determined by your underlying Comprehensive insurance over on your vehicle.
- Optional Deposit protector available if a deposit was paid. Cover for 3 years on your deposit amount (up the value of R100 000).
OPTION 3: BMW TOP UP OVER R1, 5M
If you’re looking for a more extensive Top Up option, we have you covered. You can enjoy a higher cover value and shortfall in the event of a claim.
What you get:
- Covers vehicle amounts that exceed R1,500,000 to a maximum of R2,500,000
- Maximum benefit of R600 000 shortfall.
- This product does not include supplementary cover or a deposit protector option.
OPTION 4: BMW TRADE ASSIST LOAN TOP UP
In the event that you take out a Trade Assist Loan to cover the shortfall on your trade-in vehicle, you can take this option which will cover this amount in the event that your BMW is stolen or written off.
What you get:
- Covers Vehicle amounts greater than R50,000 and less than R2,5 million shortfall
- Maximum benefit – R600 000 shortfall
- The maximum amount paid out, will be determined by your underlying Comprehensive insurance over on your vehicle.
BMW TOP-UP COVER GENERAL TERMS & CONDITIONS
Here, you’ll find some general conditions for BMW Top Up Cover.
- Only passenger vehicles weighing less than 3 500 kg will be covered.
- If the vehicle is not comprehensively insured for its full market or retail value, as determined by the TransUnion Dealer Guide at date of purchase, then the BMW Top Up policies above will not operate.
- Where the comprehensive policy is cancelled, or for any reason void or invalid, then the BMW Top Up policies above will not operate.
- Any amount added to the vehicle’s selling price which exceeds 10% above the value as per the market or retail value, as determined by the TransUnion Dealer Guide at date of purchase, will not be covered.
- Some general exclusions: arrears, excesses, refundable premiums or capital additions.
Please note: this is not the policy wording. Please download the documents below for more information on the benefits, comprehensive terms and conditions of cover.
FREQUENTLY ASKED QUESTIONS ABOUT BMW TOP-UP INSURANCE.
What is BMW Top-Up Core Insurance?
In the event that your vehicle is stolen or written off, Top-Up Core will settle the difference between your comprehensive insurance pay-out and the amount owing on your credit agreement.
What range of prices can I expect for BMW Top-Up Core Insurance?
Pricing is calculated based on the actual shortfall amount selected.
What does BMW Top-Up Core Insurance cover?
If your Vehicle is stolen or written off, we will settle the difference between your Comprehensive Insurance pay-out and the amount on your Finance Agreement, less excess payable, arrears, refundable premiums, legal fees, notice interest charges or capital additions.
What are the conditions of BMW Top-Up Core Insurance?
Where the vehicle is stolen and not recovered or damaged beyond economical repair and is written off by the Comprehensive Underlying Insurer, who has settled your claim by means of a lump sum payment, and a shortfall arises between such payment and the Credit Agreement amount, we will settle the shortfall difference.
Need to contact us or make a claim?
Telephone:
0860 100 269
Terms and Conditions
Please note that this is not the policy wording. Please read the policy wording for the full benefits as well as comprehensive terms and conditions of this cover.
BMW Financial Services (South Africa) (Pty) Ltd. is an Authorised Financial Services and Registered Credit Provider NCRCP2341. Insurance is underwritten by Guardrisk Insurance Company Ltd. an Authorised Financial Services Provider Licence No.75. Terms and conditions apply.
BMW COMPREHENSIVE COVER
Safeguard your prized possession and ensure uninterrupted driving pleasure.
BMW COMPREHENSIVE COVER
Safeguard your prized possession and ensure uninterrupted driving pleasure.
Important note: This is only a summary of the PSG Assist benefits. For more information regarding the policy benefits please contact your short-term adviser on 0860 100 269 (option 2). These products consist of risk and non-risk products. The Benefits are only valid within the borders of South Africa.
Should you elect to receive a quotation PSG Wealth Financial Planning (Pty) Ltd and accept the quotation please read the policy wording for the full benefits, comprehensive terms and conditions of the cover options.
The Insurer will be clearly stated on the policy schedule concerned.
Comprehensive Insurance available through BMW Financial Services (South Africa) (Pty) Ltd. an Authorised Financial Services (FSP 4623) and Registered Credit Provider (NCRCP2341). PSG Wealth Financial Planning (Pty) Ltd is appointed as the Administrator of the above-mentioned short-term insurance. FSP 728.
Value-added Insurance available through BMW Financial Services (South Africa) (Pty) Ltd. an Authorised Financial Services (FSP 4623) and Registered Credit Provider (NCRCP2341). Insurance is underwritten by Guardrisk Insurance Company Ltd an Authorised Financial Services Provider Licence No.75.