Discovery insure (drive)

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James 77

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Good afternoon.

I’m currently have - couple of discovery products.
-bank + vitality money
-vitality
-medical aid
-household insurance


I’m contemplating whether or not to get vitality drive as well. But it will be cost to benefit dependant. In general how much more do you pay for insurance at discovery than at competitors ?

I’m currently unable to get a quote as the vehicle will only be registered in my name next month.

How many miles do you get in return on average ?

Please feel free to contact me privately if discussing price is against the rules.
 
James 77 said:
Good afternoon.

I’m currently have - couple of discovery products.
-bank + vitality money
-vitality
-medical aid
-household insurance


I’m contemplating whether or not to get vitality drive as well. But it will be cost to benefit dependant. In general how much more do you pay for insurance at discovery than at competitors ?

I’m currently unable to get a quote as the vehicle will only be registered in my name next month.

How many miles do you get in return on average ?

Please feel free to contact me privately if discussing price is against the rules.
Click to expand...
Discovery Drive fuel cash back is not (yet) paid in Miles but bash (the Vitality Money part is paid in Miles but is limited to R150 per month).

I have received an average amount back of R1250 per month since I started my ST insurance policy with Discovery. This has been reducing steadily from April 2020 as my average monthly fuel spend has decreased from R4000 BC (before Covid) to R1200 DC (during Covid). I have 2 vehicles on my policy (the max you can get back is R800 per vehicle per month).

Add to that the R150 from Vitality Money. You can also get back a % of your premiums if you drive less than a certain distance per month.

Why do you believe Discovery would be more costly for Vehicle insurance compared to others?

I rebroke my ST insurance every 24 months and they are consistently at the average for comparable products that include tracking devices and no excess (I have bought out the excess on the vehicle Insurance). Others will experience the opposite but if they were indeed consistently uncompetitive they would go out of business?

If you decide to go this route make sure to opt for the stand alone DQ track as opposed to the phone based system. It cost more per month but is more consistent with less issues.
 
Koosvanwyk said:
Discovery Drive fuel cash back is not (yet) paid in Miles but bash (the Vitality Money part is paid in Miles but is limited to R150 per month).

I have received an average amount back of R1250 per month since I started my ST insurance policy with Discovery. This has been reducing steadily from April 2020 as my average monthly fuel spend has decreased from R4000 BC (before Covid) to R1200 DC (during Covid). I have 2 vehicles on my policy (the max you can get back is R800 per vehicle per month).

Add to that the R150 from Vitality Money. You can also get back a % of your premiums if you drive less than a certain distance per month.

Why do you believe Discovery would be more costly for Vehicle insurance compared to others?

I rebroke my ST insurance every 24 months and they are consistently at the average for comparable products that include tracking devices and no excess (I have bought out the excess on the vehicle Insurance). Others will experience the opposite but if they were indeed consistently uncompetitive they would go out of business?

If you decide to go this route make sure to opt for the stand alone DQ track as opposed to the phone based system. It cost more per month but is more consistent with less issues.
Click to expand...
Thank you very much for your detailed response. I highly appreciate it.

currently my fuel spend is between R800 and R1200 per month and as I work from home I drive less than 800 km per month.

With regards to being more expensive, that’s just through the grapevine. Colleagues who changed to other insurance companies said they ended up paying less.

I will definitely go the route of the stand-alone DQ track.

looking forward to joining then next month.
 
Discovery and Outsurance were the two cheapest I could find. Outsurance were slightly cheaper when I went myself, then I found a broker who got me a Discovery premium that was cheaper than the Outsurance quote.
 
For me, on a like-for-like comparison, Discovery Insure's premium was virtually the same as Santam's.
 
We get around R400-R550 cash back per month. Our monthly fuel spend is about R800-R1200 or so. Our insurance premium isn't that much lower than what competitors could offer but the cash back and additional benefits like discount on tyes etc that come with Vitality drive make it worth it for us. The safety aspect is also nice. My husbands boss's wife was in a car accident recently (they are also with Discovery Insure and Vitality drive). The emergency call center picked up the accident immediately, phoned the husband to let him know and sent out emergency services.
 
Yeah if you want 50% as your multiplier on your potential cash back, you used to have to also take out home contents insurance to the value of at least R300000. I don't know what the new threshold is, but my percentage dropped to 25% after I cancelled my home insurance. Ask the sales rep about that because they don't volunteer the info. Also tell them if you want the rewards paid out in cash (default is for it to go into your Excess Funder Account to pay for ... your Excess). After I funded my excess in a few months I then switched to cash back.
 
you should take it easy when you with discovery insure. No quick acceleration, no harsh braking, no speeding, etc. They also want you to complete yearly checks and online tutorials for additional points to increase your status. Try it out for a few months, you either gonna save money or get annoyed with the system.

I feel if you have all the discovery products then go for it.
 
Foxhound5366 said:
Yeah if you want 50% as your multiplier on your potential cash back, you used to have to also take out home contents insurance to the value of at least R300000. I don't know what the new threshold is, but my percentage dropped to 25% after I cancelled my home insurance. Ask the sales rep about that because they don't volunteer the info. Also tell them if you want the rewards paid out in cash (default is for it to go into your Excess Funder Account to pay for ... your Excess). After I funded my excess in a few months I then switched to cash back.
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Thank you, I will definitely ask them. House insurance is currently for R500k if I remember correctly.
 
inkos said:
you should take it easy when you with discovery insure. No quick acceleration, no harsh braking, no speeding, etc. They also want you to complete yearly checks and online tutorials for additional points to increase your status. Try it out for a few months, you either gonna save money or get annoyed with the system.

I feel if you have all the discovery products then go for it.
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Not true actually ... I get enough points from the rest of my driving that I don't pay attention to braking and speed. Because of that, my rewards are multiplied against my petrol spend, because that's lower lol. So in reality, my driving doesn't matter at all.
 
inkos said:
you should take it easy when you with discovery insure. No quick acceleration, no harsh braking, no speeding, etc. They also want you to complete yearly checks and online tutorials for additional points to increase your status. Try it out for a few months, you either gonna save money or get annoyed with the system.

I feel if you have all the discovery products then go for it.
Click to expand...
Thank you, it definitely makes sense as it will only enhance the benefits I’m currently getting (20% off on electricity instead of 15% etc)

where does one do the yearly checks ? At tiger wheel ?
 
Thank you to everyone who has responded. I will definitely get a quote as soon as the vehicle is in my name.

from personal experience, is it better to allocate the returns to the excess funder account or not ?
 
Yes yearly checks at TWT. I haven’t tried the excess funder option but it sounds nice as your cash backs are doubled into the account to buy any brand tyres or a battery and you can get the cash out every three years (when you withdraw you forfeit 50% of the value).
 
James 77 said:
Thank you to everyone who has responded. I will definitely get a quote as soon as the vehicle is in my name.

from personal experience, is it better to allocate the returns to the excess funder account or not ?
Click to expand...
Personally I recommend getting the Excess Funder Account. As I recall Discovery Insure has a standard excess of R3500, which is a bit steep to pay out of your pocket. You can also pay for things like windscreen claims out of that, which I've done before ... so I've got like R5 000 sitting in there. Beyond that I'd taken the money every month rather, because it makes no difference: Discovery will pay you out after three years, but if you leave them early then you lose that money you'd have gotten otherwise (so it's just a retention tool at that point), AND by the time you get it after three years it's technically worth less than if you'd been getting it every month thanks to inflation. I drive so little and pay so little in fuel AND have a 25% multiplier on my rewards, so my cash back is basically just money for some fast food once a month :D
 
Foxhound5366 said:
Personally I recommend getting the Excess Funder Account. As I recall Discovery Insure has a standard excess of R3500, which is a bit steep to pay out of your pocket. You can also pay for things like windscreen claims out of that, which I've done before ... so I've got like R5 000 sitting in there. Beyond that I'd taken the money every month rather, because it makes no difference: Discovery will pay you out after three years, but if you leave them early then you lose that money you'd have gotten otherwise (so it's just a retention tool at that point), AND by the time you get it after three years it's technically worth less than if you'd been getting it every month thanks to inflation. I drive so little and pay so little in fuel AND have a 25% multiplier on my rewards, so my cash back is basically just money for some fast food once a month :D
Click to expand...
Thank you, I will definitely get the excess funder account
 
James 77 said:
Thank you to everyone who has responded. I will definitely get a quote as soon as the vehicle is in my name.

from personal experience, is it better to allocate the returns to the excess funder account or not ?
Click to expand...

You can chop and change as you like. Allocate your cash back to the excess finder account until you have a decent balance and then switch to cash back in your bank account, or keep it in the excess funder account. We get cash in our account each month, but we also have R0 excess.
 
TechGirl04 said:
You can chop and change as you like. Allocate your cash back to the excess finder account until you have a decent balance and then switch to cash back in your bank account, or keep it in the excess funder account. We get cash in our account each month, but we also have R0 excess.
Click to expand...
Thank you, I will do it the same way.
 
Good morning

I have received a quote, its is around R80 bucks more expensive than my current. Is it worth going for the essential plan or rather the classic ?
 
James 77 said:
Good morning

I have received a quote, its is around R80 bucks more expensive than my current. Is it worth going for the essential plan or rather the classic ?
Click to expand...
I think there is a difference in the cash back% between those two policies, but honestly cannot recall which one gives what%, hopefully someone else will have this info.
 
Koosvanwyk said:
I think there is a difference in the cash back% between those two policies, but honestly cannot recall which one gives what%, hopefully someone else will have this info.
Click to expand...
Thank you. From what I read essential is up to 25% cashback on fuel on essential and 50% on classic.

I currently only put in fuel once a month. So if the premium higher than the additional 25% it won’t be beneficial to me
 
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