Liquid capital does not pay out

I have a Kia Picanto. In 2019 I took out a service plan with Liquid Capital. I have previously had a service plan with Liquid Capital and when that came to an end, I received a phone call to extend my service plan with them. I purchased an extended service plan so that I could continue servicing my vehicle on an annual basis with the dealer.

It has always been my understanding that there are two criteria for which you need to service to your vehicle. 1. Your vehicle needs to NOT exceed the mileage for the service it requires e.g. for the 60000km service, mileage must not exceed that. 2. Should your vehicle not reach the mileage of the next due service, then you need to service your vehicle on an annual basis.

In previous years my vehicle has not been used very much in fact, it has only been used to travel to work and back which happens to be close by. As a result my mileage has been significantly below the required service mileage but I have always had my car serviced annually.

In 2019, my son was enrolled at a school in town which required our traveling to increase.

Despite that, my annual service became due and I dutifully took it for its service. The service required was for 105000kms and my car mileage was on 99136kms.

I was then informed that authorization was not given by liquid capital because I had exceeded 15000kms even though my vehicle mileage was in fact under the 105000km mark.

Every month I have paid my premium to liquid capital and like so many companies, it seems that they try to find every loophole to not pay out for a service that the customer has/ is paying for.

They were happy for me to cancel the policy and receive my premiums back, at a R640 cancellation fee. That is half the amount of the service!