FAQ

Yes, it certainly does. Unfortunately young drivers do pay higher premiums than older drivers.

Yes, it definitely has an influence. Stats indicate that drivers who recently obtained a drivers licence are more likely to claim than a driver who has had his/her licence for many years. As for the Code of your licence, if you have for example a Code 10 (C,C1) Licence the premiums are slightly higher compared to a Code 8 (B, EB) Licence. This is because the test for a Code 10 Licence is not quite as thorough as a Code 8 Licence.

Yes, this is true. Married people are regarded as a lower risk, because generally speaking, married couples would tend to take less risks and do not go out for a “jol” as often as single might.

The main reason for this is inflation and the ever increasing cost of parts, labour, overheads, fuel etc. A vehicle covered comprehensively has cover for own damage in the event of an accident. The cost of sourcing, delivering and installing the parts that need to be either replaced or repaired are always getting more expensive. Unfortunately your premiums are increased in accordance with inflation. Your vehicle’s value will always be taken into account at renewal stage and will be adjusted accordingly.

Under Home Contents or Building Insurance, the presence of Lapa or Thatch Roof increases the fire risk and premiums dramatically. (But the size and distance from the building also has an impact) Under Vehicles the Performance contributes a lot towards a higher premium, especially Turbo Charged vehicles. Also submitting frequent claims can have a negative impact on your premiums and risk profile. Claiming too often may lead to conditions being imposed on any future insurance or even worse, the insurer might cancel your cover.

An excess is the first amount which the policy holder contributes/pays in the event of a claim/loss. It helps to reduce the loss ratio on your portfolio. It also prevents minor claims from being lodged which would have a negative impact on your loss ratio and premium. The excess also reminds you to be careful and vigilant at all times, because in a claim you will be liable to pay a small portion, “excess”, towards the claim. It is also very important to make sure you know and understand your excess structures as there could be additional excess applicable in a claim, e.g. the driver at the time of loss was not the regular driver noted on the policy etc. An attempt will be made to recover the excess, but this is not guaranteed. This recovery can take a very long time to accomplish

You pay an excess each and every time a claim is submitted, regardless of who was at fault. The cost in administrating a claim is the same regardless of who was at fault. If the other party was at fault, the legal department will try and recover the excess from the 3rd Party, but bear in mind that there is no guarantee that a successful recovery will be made. If a successful recovery is made against the party at fault, your excess will be refunded to you.

- When the insured was unable to, or neglected to obtain the 3rd Parties details. - When the 3rd Party has no means of income or assets to attach. - When the legal costs outweigh the recovery amount. - When the 3rd Party cannot be traced or located. - When the merits of the claim do not justify a recovery.

You can simply send the request to us in writing. Unfortunately a cancellation request cannot be processed telephonically. The reason for this is to protect you the client. Cancellation can be requested as an immediate cancellation for instances where the insured item has been sold. Or the request can be made for a future date. Cancellation will be confirmed in writing by the relevant insurer / administrator.

You will be given an opportunity to either make a manual payment for the premium you missed by certain date, or the insurer could re-run the missed debit by a certain date. If no payment is received by the specified date, the policy will be suspended until payment has been received. This means that you have no cover until payment for any and all outstanding premium has been received by the insurer. On a second consecutive missed debit order the policy cancels completely and cover cannot be re-instated. A whole new quote and policy has to be done. This will also lead to you losing your NCB, and this will lead to a higher premium as well.

NCB stands for No Claim Bonus. This does not refer to an amount being paid out to you for not claiming. It refers to how long you have been insured continuously without submitting any claims or suffering any losses. The Bonus part refers to the amount of discount the Insurer will allow on the item/s being quoted and or insured. An example would be a driver with a 0 NCB will receive almost no discount, and a driver with a 5 NCB will receive a high discount on the quoted or insured item. The maximum NCB insurers work on and award a discount on is a 5NCB. * Note that Window Glass & Car Radio Claims to not influence your NCB at all

Yes they do. It has been statistically proven that female drivers are better drivers than men. Women tend to take fewer chances with on the road, and are also more cautious than their male counterpart. This leads to less accidents being made by woman, and the insurers can afford to give the ladies a lower premium.

There are a lot of factors that determine or influence the premium or rating on a quote. These include but are not limited to Driver age, Age of Licence, Code of Licence, Insurance & Claims History, Suburb, Type of Vehicle, Value of the Vehicle, Use of the Vehicle (Private or Business), performance of the vehicle, etc. These factors are all captured to create your profile, and an appropriate rating or premium is applied by the insurer.

First and foremost you need to understand that the Sum Insured you specify under your Home Contents needs to be sufficient to cover All of the Contents should there be a Total Loss of all the Contents. Once you have established the Total Value of your Home Content we will add 10% to that value to compensate for Inflation. An Inventory list template can be downloaded from the Website under Documents. This template is just a guideline to give you an idea of how to approach the valuation of your Home Contents. Always remember to use current Replacement Values on your items.

The reason for this is simple; the insurer needs to establish a risk profile of the person who drives the vehicle most of the time. The risk profile then determines the premium that can be applied to that specific driver profile. A driver under the age of 25years with a licence that was recently obtained will get a higher premium than a driver over the age of 25years who has a licence for more than 3years.