Insurance Glossary

Credit shortfall

Last reviewed 25 July 2026 · by the Savvy Insurance editorial team

What is credit shortfall?

Credit shortfall is the difference between your car's insured value and the amount still owed on its finance. Optional shortfall cover pays this gap after a write-off or theft.

Example

Shortfall cover paid the R30,000 gap between the payout and his outstanding finance.

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