Motor Insurance Frequently Asked Questions

How do I determine the value of my vehicle?

Your vehicle will typically be insured for the retail value.

Should I choose a stand-alone motor insurance product?

Insurers normally provide discounts on insurance premiums for package policies. So you may want to look into getting an extra discount for having multiple policies with your insurance provider. More companies are offering car and home insurance products. If you are interested in such a bundle, you can contact your insurance provider to find out if they offer this service.

Can anyone drive my vehicle?

You must inform your insurer who the regular driver of the vehicles are. There may be changes that need to be made to your insurance policy in this respect. If your teenage son drives your car on a regular basis this may have a significant effect on your Motor Insurance premiums.

Does my premium decrease in line with the value of my car?

Annual premium review takes into account the depreciated value of the vehicle. The cost of repairs and parts constantly increase with inflation however, so this may have a negative effect on your premiums.

Why do I need to install extra security devices in my vehicle?

When you think about the high rate of crime in South Africa you should be inclined towards protecting your car as best as you can. Getting extra security is a good investment. The insurance company will encourage any preventive actions you take towards safeguarding your car. This could work in your favour.

What is an excess?

This is the specified amount that you are liable to pay in the event of any claim being settled. This amount may vary according to different insurance companies. If you choose to increase your excess amount this may result in you paying a lower premium.

 

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