I bought the car Honda Accord @ Honnda Edenvale in May 2009, MFC as my creditor. I got two insurances, the Comprehensive insurance being Discovery and my Shortfall cover being GRSA. January 20th 2013, my car crushed on a free way, it was written off by my Comprehensive insurance (Discovery) and the payed the bank, but there was shortfall amount of Hundred thousands rands. I Put the claim through to GRSA (general risk south africa) and they reject my claim, reasoning that my account is in arrears, so they not going to pay the shortfall cover!
They have been receiving their premiums regularly direct from my bank for the past three years.
Currently I am under administration from 2011, so I did arrangement with all my Creditors, including MFC.
Based on that, GRSA says than my account has fallen to arrears, since I was no longer paying the agreed initial instalment, that's why they are refusing to pay. Both my insurances where not affected, they have never had a problem of receiving what is due for them on monthly.
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