OracleShortfall

Protects you from losing out financially when your vehicle is written off or stolen

Have you thought about what would happen if your vehicle was written off, for example, due to a third party, a fire or theft? In these circumstances you often end up being worse off financially, because your insurer is unlikely to give you back the price you paid for your vehicle.

Also, if you bought your vehicle using finance, your insurance pay out may not be enough to cover the balance you owe your finance company. In these difficult situations, OracleShortfall offers you protection against losing out financially.

How OracleShortfall works

OracleShortfall offers cover in the following ways:

• It pays the difference between the original invoice price you paid for your vehicle and the amount you receive following your comprehensive motor insurance settlement, up to the level of cover you choose.
• If you purchased your vehicle using finance, OracleShortfall will pay the difference between your motor insurance payout and the amount you owe your finance company to pay off the loan, up to the level of cover you choose.
• Motor insurers will generally pay you the market value of your vehicle at the time it is written off. As OracleShortfall pays you the original invoice price, you are covered for any change in value, no matter how old your vehicle is (including any depreciation), up to the level of cover you choose.

Further benefits of OracleShortfall

• Immediate cover for new and used vehicles, with no mileage limit.
• Policies can be taken out up to 120 days after the delivery date of your vehicle.
• You can tailor the level of cover to suit you. Cover levels from £5,000 to £35,000* are available, up to a maximum of 100% of the original invoice price of your vehicle.
• We can provide cover for 2, 3 or 4 years, allowing you to choose how long you would like cover for.
• We also cover up to £500* excess in the first 12 months. This reduces to £250 thereafter*.
• You can pay for your policy either in one payment or 12 monthly instalments (at no extra cost), whichever you prefer.
• If your vehicle is written off or stolen (and not recovered) in the first 12 months and you make a claim under the 'new for old' replacement vehicle benefit of your vehicle insurance policy, the remaining term of your Shortfall policy will be transferred to your new vehicle.
• We also cover up to £2000* worth of dealer fitted options.
• In the event of a total loss, we will be on hand to guide you through the claims process.

To find out more about OracleShortfall, or to purchase a policy, please call your Account Manager or any of our team on 08450 944997

OracleShortfall is provided by Alphera and is underwritten by Allianz Insurance plc and administered by Mondial Assistance (UK) Limited

OracleShortfall Keyfacts

OracleShortfall Policy Document

OracleShortfall FAQ

Oracle Asset Finance is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Services Authority

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