Car insurance write-off question

[semisane1987]

Yeah it sound risky if the repair is R12 000 you basically screwed you will have to see how you get R8000.

I'm sure I can pay bit more to accumulate more money. I think PMD is best for old cars like toyota tazz as the are cheap to repair. But for a new cars it's risky because parts are expensive.

 

[pinball wizard]

Oh, well **** that. That's not insurance.

 

[pinball wizard]

Yeah it sound risky if the repair is R12 000 you basically screwed you will have to see how you get R8000.

I'm sure I can pay bit more to accumulate more money. I think PMD is best for old cars like toyota tazz as the are cheap to repair. But for a new cars it's risky because parts are expensive.

Old cars? Again, **** that. Many insurance companies will insure old cars. Hell, I had a lada insured before.

 

[Hemi300c]

Get traditional normal comprehensive insurance and don't damage yourself financially.
These gimmick insurers are not good and you will only come off second best.
And work through a reputable broker.

 

[pinball wizard]

Get traditional normal comprehensive insurance and don't damage yourself financially.
These gimmick insurers are not good and you will only come off second best.
And work through a reputable broker.

Exactly.

Insurance is meant to leave you in the same position you were in before the loss, not better off, but certainly not worse off.

 

[stoymigo]

If your car repair damages are more than 70% of your car value does it automatically mean the car is a "total loss" and is there an industry standard regarding this?