What is Deposit Cover?

You run the risk of losing your car to an accident, hijacking or theft. Replacing that car comes at a price. Deposit Cover will pay 10% of the sum insured on this policy towards a deposit on a replacement car, up to a maximum of R100,000.

With Deposit Cover you are covered for the unforeseen.

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How do I benefit?

Affordable monthly payments
  • .No large unexpected deposits
  • .Personal accident benefits
  • .Makes provision for both new and used cars
  • .Pays out no matter what age your car is

Is this policy for me?

If you know you might not have enough cash on the spot for a deposit on a new car when you lose it due to an accident, theft or hijacking, then this policy is for you.

It helps you in your time of need and assists in getting you back behind a wheel of your choice.

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Is this policy not what you’re looking for?

What is provided for?

Deposit Cover

Where your car has been written off, stolen or hijacked and not recovered within 31 days of the date of loss, we will pay 10% of the sum insured on this policy towards a deposit on a replacement car, up to a maximum of R100,000.

Maximum of R100,000 for any claim

Personal Accident Benefit

In the case of permanent and total disability – the benefit is payable only if the disability occurs within 12 months of the date of the accident.

All benefits will be reduced by 50% once you reach the age of 70.

Payment options

You have the following options to pay for a Deposit Cover Policy:

  • Monthly

You can purchase a Deposit Cover Policy via our national call-centre or through approved dealerships.

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Frequently asked questions
What is a Deposit Cover Policy?

You run the risk of losing your car to an accident, hijacking or theft. Replacing that car comes at a price. A Deposit Cover Policy will pay up to 10% of the value of the vehicle at time of purchase towards a deposit on a replacement car, up to a maximum value of R100 000.

How do I know if I can get a Deposit Cover Policy?

Your car qualifies for a Deposit Cover Policy if:

  • It has an active motor comprehensive policy covering the car

  • It’s a private vehicle

  • It’s a light delivery vehicle

  • It has a gross vehicles mass of not more than 3 500kg.

How can I buy a Deposit Cover Policy?

You have the following options to pay for a Deposit Cover Policy:

  • Monthly

You can purchase a Deposit Cover Policy via our national call-centre or through approved dealerships

Do I have to use the Deposit Cover payment towards a deposit for a new car only?

No, you can use the payment for counselling in the event of a traumatic experience, towards school fees or towards savings for a holiday. It does not have to be used for a deposit for a new car.