King Price Credit Shortfall Cover
Use the calculator to find out if you're currently underwater on your car loan — and whether King Price Credit Shortfall Cover is worth the premium. No lender restriction — available to any King Price comprehensive insurance customer regardless of who financed the vehicle.
No shortfall risk
R 0
Your outstanding balance (R 266 354) is less than the estimated vehicle value (R 280 000). You are not currently exposed to a shortfall.
Balance vs. vehicle value
Estimated outstanding balance
Month 12 of 60
R 266 354
Estimated market value
8% of purchase price retained
R 280 000
Is shortfall cover worth it?
Your exposure now
R 0
Potential shortfall
Cost of cover
R 3 840
R 80/mo × 48 months remaining
Shortfall cover is not needed at this point.Your outstanding balance is already below the vehicle's estimated market value. If you have existing shortfall cover, you may want to consider cancelling it — you are no longer exposed to a shortfall. Verify with the actual market value of your specific vehicle before cancelling.
Finance summary
Amount financed
R 315 000
Deposit
R 35 000 (10%)
Balloon
None
Rate
12.25%
Term
60 months
Months remaining
48
Depreciation estimates are based on SA market data and vary by mileage, condition, colour and demand. Outstanding balance uses the standard annuity-with-balloon formula. Market value is an approximation — get a valuation from AutoTrader SA or WesBank's book value tool for your specific vehicle. This is a planning tool, not a formal insurance quote. Not financial advice.
Get a King Price shortfall quote
King Price's premium is risk-rated — your quote depends on vehicle value, outstanding balance and your profile.
About King Price Insurance Credit Shortfall Cover
King Price Insurance offers credit shortfall cover as an add-on to its comprehensive vehicle insurance. Unlike the bank-captive products from WesBank, MFC, Standard Bank and Absa, King Price's shortfall cover is not tied to who financed the vehicle — any King Price comprehensive insurance customer can add it, regardless of whether their finance is through WesBank, MFC, Standard Bank, Absa, Toyota Financial Services, BMW Financial Services, or any other lender.
King Price positions its shortfall cover as simple and affordable. The premium is risk-rated based on the vehicle's value and outstanding balance, but King Price is known for pricing transparency — they are one of the few SA insurers that explains the logic of how premiums are structured rather than treating it as a black box. The core shortfall benefit covers the same gap as the bank-captive equivalents: the difference between the outstanding finance balance and the comprehensive insurance payout on a total loss.
What's specific to King Price
- ›Open-market — available to any King Price comprehensive insurance customer.
- ›No lender restriction — covers WesBank, MFC, Standard Bank, Absa, or OEM-financed vehicles.
- ›Can be added to an existing King Price policy at any point in the loan term.
- ›Risk-rated premium — typically in the R50–R110/month industry range.
Monthly premium
Risk-rated
R50–R110/mo industry range
Payout cap
Not published
See policy schedule
Cover type
Open market
King Price comprehensive vehicle insurance required
King Price credit shortfall cover — frequently asked questions
Can I get King Price credit shortfall cover if my car is financed by WesBank?
Yes — King Price credit shortfall is open-market, meaning it doesn't care who financed your vehicle. Whether your finance is through WesBank, MFC, Standard Bank, Absa, Toyota Financial Services, BMW Financial Services, or any other lender, you can add King Price shortfall cover to your King Price comprehensive policy. The only requirement is a King Price comprehensive vehicle insurance policy on that vehicle.
How does King Price shortfall cover differ from bank-captive products?
The core shortfall benefit is the same — the gap between the outstanding finance balance and the insurer's total-loss payout. The difference is eligibility. Bank-captive products are only available to that bank's own finance customers, sold at the dealership F&I desk. King Price's open-market product is available to any King Price comprehensive insurance customer regardless of lender — useful if you didn't take shortfall cover at the dealership and want to add it later.
Do I need King Price comprehensive insurance to get their shortfall cover?
Yes — King Price credit shortfall is an add-on to King Price comprehensive vehicle insurance, not a standalone product. If you're with another insurer (OUTsurance, Santam, Discovery Insure), you would need to switch your comprehensive insurance to King Price, or look at Santam's equivalent open-market shortfall product.
How is King Price's shortfall premium calculated?
Like all SA shortfall products, the premium is risk-rated based on the vehicle's retail value, the outstanding finance balance, and the remaining loan term. King Price does not publish a price schedule — get a quote via their website or call centre. Market range for comparable products: R50–R110/month.
Is there a payout cap on King Price shortfall cover?
Review your policy schedule for the specific maximum benefit. King Price does not publish a standard cap — the limit is set at time of policy issue based on the outstanding balance. Always read the policy wording before signing to understand the maximum payout and any applicable exclusions.
Sources & methodology: King Price product details sourced from King Price's public website and broker disclosures. Premium is risk-rated — industry range R50–R110/month from SA broker aggregator sites (2025–2026). Outstanding balance modelled using the standard annuity-with-balloon formula. Depreciation curves from AA SA and AutoTrader SA 2025–2026 data. Not financial advice — consult your lender or a registered financial adviser before purchasing cover. King Price product terms may change; always verify current cover details directly with King Price.