If your car was written off, for example, due to a fire, theft or road traffic accident, you often end up being worse off financially. Your insurer is unlikely to give you back the price you paid for your car. Also, if you bought your car using finance, your insurance pay out may not be enough to cover the balance you owe your finance company. In these difficult situations, BMW Shortfall offers you protection against losing out financially.
BMW Shortfall pays the difference between;
- the motor insurer's settlement figure and vehicle invoice price, or
- the motor insurer's settlement figure and the outstanding finance amount.
Motor insurers will generally pay you the market value of your car at the time it is written off. With BMW Shortfall you are covered for any change in value, no matter how old your car is (including any depreciation).
BMW Shortfall is administered by Mondial Assistance (UK) Ltd. Registered in England, No 1710361. Registered Office 102 George Street, Croydon CR9 6HD and is underwritten by AGA International SA, trading from the above address. Mondial Assistance (UK) Ltd is authorised and regulated by the Financial Conduct Authority No 311909.