Credit Shortfall Credit shortfall (gap cover) bridges the depreciation/finance balance gap.

What is credit shortfall?

Covers value-vs-finance gap. As a King Price client you will see credit shortfall referenced on your policy schedule, in your claim documents, or in conversations with client care on 0860 50 50 50.

How credit shortfall works

credit shortfall is governed by the terms set out in the King Price Policy Document and the individual schedule issued for your policy. Your schedule always overrides the master wording where they differ, so the values, limits and conditions that apply to you appear there in plain English.

King Price reviews the application of credit shortfall at every renewal, and any change to your risk profile, address, vehicle, security or claims history is taken into account. The Treating clients Fairly framework requires this detail to be communicated clearly before any change takes effect.

Example

Refilwe collects vintage Mercedes-Benz models in Pretoria. Payout R180k, bank wants R210k → shortfall = R30k. In this scenario, credit shortfall determines the practical outcome for the client. The exact numbers depend on the cover option, the excess on the schedule and the limits set out in the policy document.

Why credit shortfall matters

Understanding credit shortfall helps King Price clients make better decisions about cover. It affects the monthly premium, the payout at claim stage, and the steps required before and after an incident. Getting it right means no surprises at claim time.

King Price aims to make insurance great again with plain-English wording, transparent premiums and a direct relationship with clients. Clear terminology like credit shortfall is part of that promise.