Car insurance in South Africa can be a confusing business. With so many TV ads providing testimonials and stories that don’t give you much more information about how it works or what is covered. Which companies should you look at? What does car insurance cover? What types of car insurance do you get?
Santam car insurance is a unique offering that is cover many vehicles driving on the South African roads. The company has a great history of making sure their clients are covered for all their car insurance needs in South Africa. They are one of the best providers of car insurance in South Africa.
What cover options are there?
Santam offers multiple car insurance covers to suit your needs. These do differ from insurer to insurer. It is also important to take note of what type of insurance is required if you are financing the vehicle.
Here are a few basic covers that are common in the insurance space:
- Third Party Cover – This cover covers the third party (i.e. other cars) in the event of an accident. Depending on your cover this can include damage to buildings and people as well. This is a very important insurance to keep as it can help you stay out of trouble if you mistakenly bump a Ferrari! Some insurers do put a limit on third party cover, and this is something you should discuss with your Financial Advisor or Insurance Broker.
- Collision, Fire & Damage Cover – This is the cover for your own vehicle in the event of damage or a collision. This amount will cover the repairs of your vehicle or as stipulated in your insurance contract. It is important to note road and driver restrictions as this can play a major role in the price of your cover.
- Good In Transit – This is one people don’t often know about. This is the cover for your stuff in your car such as your sell phone, laptop, or sports equipment being carried. This is an extra often found in car insurances. It is important to note what type of items are covered at some insurers do not cover electronics for example.
- Theft Cover – this is as it says. If someone steals your car, they will help you recover it and/or pay you out. This is dependent on your cover.
- Personal Liability – this cover is for yourself and others in the car. This will cover you and/or them in the event of injury, disability or death.
A lot of these cover options are bundled into one contract or product such as Comprehensive car insurance or Theft, Fire & Third-Party Cover. However, it is important to read through your contract and understand what is and is not included in the cover.
This was just a basic overview of the covers Car insurances in South Africa offer. However, this can differ from insurer to insurer. If you have questions, speak to your broker or advisor.
What is an excess?
An insurance excess is the amount you will need to pay in the event of a claim. This often varies depending on the type of claim. For example, a windscreen claim often has a lower excess than a crash claim.
This amount can be higher or lower depending on your age, years of driving and or the area in which you were driving in.
The excess can offer be lowered or raised depending on how much you are paying in premium every month. This does depend on which provider and cover option you have selected.
Some other benefits of Santam car insurance
Having Santam car insurance provides you with some great benefits that can help make your journey better. Car insurance covers you in the event of many different situations. And though this may vary from cover to cover, there are some benefits seen throughout:
- They assist with legal battles
If you are in an accident caused by someone else, it can be a lengthy process to get your money back. Luckily, if you have the correct insurance cover, you could hand this job over to your insurer. The insurers legal team will then take over and fight the battles needed to recoup the money. Its like having a legal team on retainer. This will depend on the type of accident and the cover you have.
- Large Network of Repair Shops
When your car gets damaged and needs to get fixed, it can be confusing on where to go. The insurers know this and have a list of approved suppliers. They will be able to direct you to a professional who can help you get your car fixed and assist in getting you back on the road as fast as possible.
- Personal Accident Cover
Some car insurance covers in South Africa will also cover you in the event of an accident. This means you will be covered for injuries, disability and even death in some cases up to a prescribed amount stated in your policy. Check your policy or speak to your broker to see if your cover includes this.
Where can I get or compare Car Insurance in South Africa?
To get car insurance like Santam car insurance, the most efficient way is to use a registered and licensed insurance broker. These brokers can help you choose the best cover to suit your needs while keeping within your budget. Brokers earn via commissions and it will not cost you more to get a broker.
Insurance Brokers in South Africa Study and write exams to be licensed to sell you insurance products. Take advantage of their expertise and let them help you compare options to find you the right cover.