MiWay
No shortfall cover given

I took out a policy with Miway in September 2013. The policy was taken out telephonically and was finalised on the Friday afternoon. Seeing as they gave me FULL COMPREHENSIVE COVER and did not mention anything regarding any additional shortfall cover, I did not question their protocol at that stage.

But everything changed as soon as I was involved in an accident on 24 October 2013.

The vehicle I bought, was from the Satinsky group. They requested that I forward the policy number as proof of cover before the vehicle would be delivered to me. The vehicle was delivered on the Saturday 21 October 2013, the day after I had taken up cover with Miway. Now, two months later, I am still without resolution in the matter.

Miway simply says that the Satinsky group should have given me the shortfall cover. WHY??? is my question. It is as if to say that you should take your shortfall cover from your dealership!!!
Apparently this is standard practice, when dealing with companies such as these. Then again my question, why was I not informed of the standard protocol???

Should Financial Service Providers not be held liable for giving incomplete information to their clients?

Company: MiWay
Country: South Africa
City: SA

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