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, up to the level of cover you choose, between;
- the comprehensive motor insurer's settlement figure and vehicle invoice price, or
- the comprehensive 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), up to the level of cover you choose.
Benefits of BMW Shortfall.
Immediate cover for new and used cars, with no mileage limit.
- You can tailor the levels of cover to suit you. Choose from £10,000 £15,000 and £20,000, up to a maximum of 100% of the original invoice price of the car.
- We provide cover for 2, 3 or 4 years, allowing you to choose how long you would like cover for.
- You can pay for your policy either in one payment or 12 monthly instalments (at no extra cost).
- If your car is written off or stolen (and not recovered) in the first 12 months and you make a claim under the 'new for old' replacement car benefit of your car insurance policy, the remaining term of your Shortfall policy will be transferred to your new car.
In the event of a total loss, our experienced BMW Protect Services team will be on hand to guide you through the claims process.
BMW Protect is underwritten by AGA International SA and administered in the UK by Mondial Assistance (UK) Ltd. Terms and conditions apply.