Our Faq Frequently Asked Questions
What factors are taken into account in determining what premium I pay?
Numerous things are taken into account, for example, the make and model of your motor vehicle, where you live, where your vehicle is kept at night and under what circumstances, who the regular driver of the vehicle is, what purpose your vehicle is used for and your previous claims history. Because your premium is calculated on these facts, amongst others, it is very important that you are honest when answering these and any other questions. If you are not sure about an answer, rather tell the consultant this and get back to them later. It is important to be honest in your dealings with your insurer or broker, including when you register a claim.
Why does my premium increase every 12 months even though the value of my car diminish in value over a period of time?
You are not only covered for the theft of your vehicle but also for the repair of your vehicle. The cost of repairing your vehicle and parts used increase every year so your premium unfortunately has to increase in line with these costs even though your vehicle depreciated in value.
What is the difference between Comprehensive cover, Third Party, Fire and Theft, and Third Party only?
Comprehensive motor cover gives you the widest cover with insurance against accidents and theft, including damage you may cause to another party. Third Party, Fire and Theft motor cover will cover you for damages against another party or if the vehicle is damaged as a direct result of fire, explosion, lightning, an attempted theft, or if it is stolen. While Third Party motor cover will only cover the other party and their property due to damages caused by you. This will not cover damages or loss to your vehicle.
If I cannot afford my premium this month, can I pay double next month?
You may find it difficult to meet the premium payments on the first working day of the month. In order to assist you if you do find yourself in this position, you would be able to set aside a "Special Deduction" on a date which is more convenient. However, if the premium is not received by this date, you will have no cover for that period for which the premium was due and the policy will lapse. This means that, although the contract is still in force, there is no cover for that period. If we do not receive payment for that month, you unfortunately do not have cover. true.
What is the difference between the retail and the market value of my vehicle?
- The retail value which is a higher value than market value - and the highest value you can insure your vehicle for, is the average price a dealer would sell the vehicle for - taking its age, condition and mileage into account.
- The market value is the average between the retail and trade value of your vehicle and is therefore a lower than the retail value. A discounted premium is charged for clients selecting the market value as insured value.
- Finally, the trade value of the vehicle is the average price a dealer will pay you for your vehicle.
Insurance Premium Tip Some insurers offer a reduced premium for policyholders who complete an advanced driving course, as the course assists motorists in being able to handle challenging driving situations better.“This means that, not only do they become safer drivers, but they also have a lower risk of being involved in an accident.”