Car insurance benefits both the owner of the car and those who are sharing the road with the car owner. In South Africa, there are approximately 500 000 and 140 000 thefts and hijackings on the roads each year.
While car insurance isn’t compulsory in South Africa, more individuals are seeing the value in getting this insurance.
What types of car insurance can you get?
This is the most extensive type of insurance cover, because you get complete coverage. This type of insurance provides cover for hijacking and theft to damage or complete loss of the car. You also get protection from third party claims as well as cover for hail and other natural disasters.
Third Party, fire and Theft Cover:
This type of cover does not pay out for accidents. You do however get cover for hail or fire and even if your car is hijacked or stolen.
Third Party Cover:
This is the cheapest option. It covers costs relating to any injuries or deaths relating to an accident which has been your fault.
What do car insurance brokers do?
A car insurance broker sells, solicits or negotiates insurance for compensation. This individual represents the insured and generally has no contractual agreements with insurance carriers.
Financial Services legislation in South Africa requires that a broker disclose to the client the broker commission and this should be displayed clearly on your car insurance quote or policy.
This commission is based on professional brokers who:
- Possess a specialised knowledge in the area of car insurance
- Is a hard worker
- Will save the client money
- Will provide clients with regular feedback
- Will work to provide a better premium
- Will be able to handle the claims process on your behalf
- Have swift response times, good communication and are professional