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Do I still have to pay my monthly instalments if my motor vehicle is stolen?

April 26, 2017instalments motor pay stolen vehicle

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Do I still have to pay my monthly instalments if my motor vehicle is stolen?

1 Answer

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Yes. This is because your liability to pay the monthly instalment does not cease with the loss of your motor vehicle. However, you may claim from the insurance company, the market value of the insured motor vehicle or the sum insured, whichever is lower.