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 original purchase amount towards a deposit on a replacement car, up to a maximum of R100 000.
With Deposit Cover you are covered for the unforeseen.
How do I benefit?
Affordable monthly payments
No large unexpected deposits- Personal accident benefits in case of accidental disability or death
- 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.
Is this policy not what you’re looking for?
What is provided for?
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 original purchase amount towards a deposit on a replacement car, up to a maximum of R100 000.
Maximum of R100 000 for any claim
In the case of accidental 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.
The fine print
Your car qualifies for a Deposit Cover Policy if:
It’s a private vehicle
It’s a light delivery vehicle
It has a gross vehicles mass of not more than 3 500kg.
Personal accident benefit
In the case of accidental 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.
How to use this product
Learn more
For additional information on this product and the respective FAIS disclosure, click here.
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.
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.
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
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.
