Car Insurance 2018 Help

D

Diego Tristan

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Joined
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Location
Pretoria
Hi

Needing insurance for my car, it has been covered under my old man's insurance since I became a licensed driver in 08, now that I've ventured off on my own, I am looking to take out my own -- obviously its going to be more expensive but I am looking to take the financial burden off my soon to be retired old man.

My requirements:
Corsa Utility 1.4i Sport, 2007 model
+ Theft cover
+ Highjacking cover
+ Accident cover
+ Roadside assist for mechanical issues
+ Medical assistance in an accident
+ Towing and storage
+ Third party claims
++ Preferably no excess (not likely being a 20-something year old)
++ No increase in premium after claims

Options:
Virseker - Cape Town based insurer, quoted me R474 pm for comprehensive cover with an excess of R3500. Cover includes all of the above. Additional excesses apply if my buddy has an accident with my car, R2500 etc. above the R3500. Car is partially used for business purposes as I travel to clients to administer training.

Santam - R870 pm for comprehensive. Excess is R4500.

Budget - based on hippo quotes, R500 - R600 with excess of R4500

Dial Direct - based on hippo quotes, R500 - R600 with excess of R4500

MiWay - based on hippo quotes, R500 - R600 with excess of R4500

My heart is set on Santam though my budget was ideally R500 to R700.

Can you possibly share your experiences with the above insurance providers and perhaps suggest others if you have had a positive experience? Do you have a no excess plan? Also, does your plan go up after claims...

Thanks for sharing
 
satanboy said:
Ask them to match the others.
Click to expand...

Literally told them about my quote from Virseker... the lad said they've already factored in a 15% discount, so they can't go lower. Should I try speaking to another broker and try my hand again? Cheers
 
Rather just go through a broker than a commercial company directly. My broker is fantastic and makes sure my premium stay low.
 
Diego Tristan said:
Hi

Needing insurance for my car, it has been covered under my old man's insurance since I became a licensed driver in 08, now that I've ventured off on my own, I am looking to take out my own -- obviously its going to be more expensive but I am looking to take the financial burden off my soon to be retired old man.

My requirements:
Corsa Utility 1.4i Sport, 2007 model
+ Theft cover
+ Highjacking cover
+ Accident cover
+ Roadside assist for mechanical issues
+ Medical assistance in an accident
+ Towing and storage
+ Third party claims
++ Preferably no excess (not likely being a 20-something year old)
++ No increase in premium after claims

Options:
Virseker - Cape Town based insurer, quoted me R474 pm for comprehensive cover with an excess of R3500. Cover includes all of the above. Additional excesses apply if my buddy has an accident with my car, R2500 etc. above the R3500. Car is partially used for business purposes as I travel to clients to administer training.

Santam - R870 pm for comprehensive. Excess is R4500.

Budget - based on hippo quotes, R500 - R600 with excess of R4500

Dial Direct - based on hippo quotes, R500 - R600 with excess of R4500

MiWay - based on hippo quotes, R500 - R600 with excess of R4500

My heart is set on Santam though my budget was ideally R500 to R700.

Can you possibly share your experiences with the above insurance providers and perhaps suggest others if you have had a positive experience? Do you have a no excess plan? Also, does your plan go up after claims...

Thanks for sharing
Click to expand...

Firstly go with a broker. And then secondly make sure that natural disasters such as hail,flooding etc are covered. Insurance companies are sneaky these days and those items might not be included in their “comprehensive coverage”
 
I've been with Miway for a number of years - no issues. Forward them the virseker quote, they'll most likely match it. Also, I could send you a "Name Drop" from Miway if you choose to go with them.
 
satanboy said:
Try another broker.
Click to expand...

Just gave Santam a second ring, basically said I should send through the Virseker one etc, they will *try* to match... will send it and then see what happens.

Tander said:
Rather just go through a broker than a commercial company directly. My broker is fantastic and makes sure my premium stay low.
Click to expand...

I've noticed many people advise using a broker, do you have to pay a monthly membership fee to this broker or is it a once off? Which broker(s) would you suggest?
 
epah said:
Firstly go with a broker. And then secondly make sure that natural disasters such as hail,flooding etc are covered. Insurance companies are sneaky these days and those items might not be included in their “comprehensive coverage”
Click to expand...

Cheers mate, I knew there was one type of cover I was missing! Will definitely ask for this
 
Speedster said:
I've been with Miway for a number of years - no issues. Forward them the virseker quote, they'll most likely match it. Also, I could send you a "Name Drop" from Miway if you choose to go with them.
Click to expand...

Thanks Speedster, will send through to MiWay. You've had no issues so far, glad to hear. Have you claimed at any stage, how would you say was your experience, turn around of the claim... getting your car up and running... increases in premium post-claim?
 
Diego Tristan said:
..

I've noticed many people advise using a broker, do you have to pay a monthly membership fee to this broker or is it a once off? Which broker(s) would you suggest?
Click to expand...

Broker is paid commission monthly (from your premium). Doesn't make it more expensive for you (normally).
 
Diego Tristan said:
Thanks Speedster, will send through to MiWay. You've had no issues so far, glad to hear. Have you claimed at any stage, how would you say was your experience, turn around of the claim... getting your car up and running... increases in premium post-claim?
Click to expand...

Yes, I wrote my car off about 3 days after joining (lady smashed into the rear of my car on the highway), they paid out within a few days. Had a few dents, broken windows since and they've been excellent every time. Premium is adjusted annualy, but then I just phone them, have a friendly fight, and they revise it downwards again.
 
epah said:
Let us know how it goes
Click to expand...

Indeed I shall, good sir, going to get more quotes by Monday and send it through to strengthen my case. The lad mentioned that Budget, Dial Direct, Virseker are all under the same Auto & General group so thats why they have similar rates... he also stated that because those providers charge additional excess based on whether its between 11pm and 5am, if your buddy drives and has an accident with your car etc... they are therefore able to give you a lower premium.

satanboy said:
Broker is paid commission monthly (from your premium). Doesn't make it more expensive for you (normally).
Click to expand...

The "normally" made me giggle. Do you have a broker in mind? I am clueless.

Speedster said:
Yes, I wrote my car off about 3 days after joining (lady smashed into the rear of my car on the highway), they paid out within a few days. Had a few dents, broken windows since and they've been excellent every time. Premium is adjusted annualy, but then I just phone them, have a friendly fight, and they revise it downwards again.
Click to expand...

Cheers Speedster, friendly fight is all in a day's work. I will nonetheless get quotes from them by Monday.
 
I'm with RBS insurance which is a brokerage. Only had good service from them over the years. Before that I was with Outsurance which, granted, I did not experience bad service but they were much more expensive than my current insurance. They only wanted to give me a discounted when I wanted to cancel with them and even then they couldn't match what RBS offered.
Also inquire about the no-excess option as this allowed me to pay about R35 -R40 extra on my premiums but I do not pay any excess should I ever have to claim. RBS as a broker deals with several different insurance companies and I am covered by Hollard through them.
Brokers normally get big discounts which why they can offer a better premium rate than going directly to an insurance company.
 
Also be careful place like Dial Direct, Budget, First for Woman, etc, as they all fall under the same umbrella. They even share callcentres and are always looking for reasons not to pay out.
 
In most cases taking, Excess Waiver or Excess Buyback only covers the basic, theft, hijack and sometimes windscreen or glass excess.
In most cases the additional excesses still apply.
@OP please only take advice from a Certified FSP as it's illegal to give advice if you aren't one.
Also PLEASE only work through a reputable broker and don't go the direct insurance route.
 
Magandroid said:
I'm with RBS insurance which is a brokerage. Only had good service from them over the years. Before that I was with Outsurance which, granted, I did not experience bad service but they were much more expensive than my current insurance. They only wanted to give me a discounted when I wanted to cancel with them and even then they couldn't match what RBS offered.
Also inquire about the no-excess option as this allowed me to pay about R35 -R40 extra on my premiums but I do not pay any excess should I ever have to claim. RBS as a broker deals with several different insurance companies and I am covered by Hollard through them.
Brokers normally get big discounts which why they can offer a better premium rate than going directly to an insurance company.
Click to expand...
^^this. I have emailed PSG Wealth today, hoping to get help with car insurance as well as medical. I looked at the reviews on RBS, didn't look promising but based on your advice I will email them to get hold of a broker. Thanks for the advice

Hemi300c said:
In most cases taking, Excess Waiver or Excess Buyback only covers the basic, theft, hijack and sometimes windscreen or glass excess.
In most cases the additional excesses still apply.
@OP please only take advice from a Certified FSP as it's illegal to give advice if you aren't one.
Also PLEASE only work through a reputable broker and don't go the direct insurance route.
Click to expand...
Thanks, sir, I am looking to avoid an excess as my current cost of living won't see me able to pay an excess any time soon! Roger that, in terms of going through a broker. As Magandroid and several others have mentioned, I stand to benefit from a broker's negotiation power and discount advantage. Also, as far as I understand, having a broker really makes a difference when it comes to succeeding with claims.
 
Magandroid said:
Also be careful place like Dial Direct, Budget, First for Woman, etc, as they all fall under the same umbrella. They even share callcentres and are always looking for reasons not to pay out.
Click to expand...

+1000. Take this guys advice, all those insurance companies mentioned above are terrible and I wouldn’t touch them with a 10 foot pole.

I highly recommend “Tuff stuff insurance” through REAM brokers
 
epah said:
+1000. Take this guys advice, all those insurance companies mentioned above are terrible and I wouldn’t touch them with a 10 foot pole.

I highly recommend “Tuff stuff insurance” through REAM brokers
Click to expand...

You may also Call Adele Muller at Tony Mouton Brokers and she can help you with Santam. 0832623425.

Cheers
 
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