Adcover and Deposit Cover
Should you suffer total loss of your vehicle through an accident, hijacking or theft, there is a possibility that you will also suffer shortfall between your comprehensive insurance pay-out and the settlement amount of your finance agreement. Kia Platinum Adcover and Deposit Cover will help you bridge this gap and will also make provision towards a deposit for a replacement vehicle.
What is Kia Platinum Adcover and Deposit Cover?
The Kia Platinum Adcover and Deposit Cover offers you a convenient way to fill the gap between the outstanding balance owed to the Finance Company that financed your vehicle and the pay- out received from your comprehensive insurance company when your insured vehicle is stolen or hijacked and not recovered, or written off. As an optional extension you can also insure the deposit for a replacement vehicle.
(Note: the Kia Extended Warranty is not an extension of the manufacturer warranty and has certain exclusions and limitations)
What are the benefits of the Kia Platinum Adcover and Deposit Cover?
- A percentage of the sum insured of the policy will be paid out if your vehicle is damaged beyond economical repair, stolen or hijacked.
- The shortfall amount between your comprehensive insurance pay-out and the settlement amount on your finance agreement is covered by the policy, excluding any excesses.
- If your comprehensive insurance company rejects your claim due to your unintentional failure to comply with a policy condition, then the insurer will look into the merits of the rejection and may possibly pay the claim.
- The policy premiums are debited from your nominated bank account monthly so no big upfront payments are required.
- The policy can be cancelled immediately if you sell the vehicle or trade it in.
- If you skip a payment on your comprehensive insurance cover and your insurer rejects your claim based on this reason, then the policy will pay your claim, subject to terms and conditions.