In the event of your vehicle being stolen or damaged and declared a total loss, provided that the policy holder adhered to the terms and conditions of this policy and paid the required premium.
- saXum will settle the outstanding debt the policy holder’s vehicle credit agreement less the first amount payable (excess) and the settlement from your comprehensive insurance policy
- We will not pay more than R 200 000 on any one event
- If the sum insured is less than the market value then we will deduct the difference between the market value and the sum insured from the amount that we pay
- The policy holder must have a fully enforced comprehensive policy in place for this cover to be valid