Motor insurance: Santam vs Auto & General

P

PostmanPot

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Hi all

What's your take on Santam vs Auto & General? Any differences besides Santam being 30% more expensive, and Auto & General having a higher excess (and a higher excess for a claim in the first six months, or if there are two claims per year)?

I've always been with Santam, but if I'm getting the same cover for 30% fewer Rands per month, I might as well change to Auto & General.

Your experience?

Thanks.
 
Venomous said:
Have you asked Santam to re-evaluate your figures?


(always a good thing anually)
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I'm going through a broker and have insisted on doing everything to bring the price down. Still, 30% more than A&G (R950 vs R650).

The advice is that I should stay with Santam. Something tells me there is extra commission from them.
 
PostmanPot said:
I'm going through a broker and have insisted on doing everything to bring the price down. Still, 30% more than A&G (R950 vs R650).

The advice is that I should stay with Santam. Something tells me there is extra commission from them.
Click to expand...

google for complaints about A&G and motor repairs...


Also.

The skinny hippo is really an A&G product.
 
Check to ensure the following:-
1) Correct market value
2) Security requirements
3) Additional policy/broker fee - must reflect on schedule
4) All commissions are standard and should be reflected on your policy 20% Non Motor 12.5% Motor (Marine could be 15%)
5) Ask the broker to tell you what their Santam loss ratio is (Sub 65% is ok)
6) Ask for quote with additional to existing excess amount (Voluntary excess)
7) Ensure the cover and use of the vehicle is the same and correct
Weather you go direct to Santam or through a broker the cost is the same. Is the A&G premium through a broker?
Always work through a broker for short term insurances IMO
Santam is a better policy and insurer IMO
 
PostmanPot said:
I'm going through a broker and have insisted on doing everything to bring the price down. Still, 30% more than A&G (R950 vs R650).

The advice is that I should stay with Santam. Something tells me there is extra commission from them.
Click to expand...

The higher your premium, the more commission the broker earns. My insurance is with Santam and I have been happy with their service (claims are paid out fast). I have no experience with Auto & General.

Who is your broker? Big name or small guy?
 
Hemi300c said:
Check to ensure the following:-
1) Correct market value
2) Security requirements
3) Additional policy/broker fee - must reflect on schedule
4) All commissions are standard and should be reflected on your policy 20% Non Motor 12.5% Motor (Marine could be 15%)
5) Ask the broker to tell you what their Santam loss ratio is (Sub 65% is ok)
6) Ask for quote with additional to existing excess amount (Voluntary excess)
7) Ensure the cover and use of the vehicle is the same and correct
Weather you go direct to Santam or through a broker the cost is the same. Is the A&G premium through a broker?
Always work through a broker for short term insurances IMO
Santam is a better policy and insurer IMO
Click to expand...

Thanks, I might do this, although I have asked for the best pricing, still not happy.

Due to its scarcity, the vehicle doesn't have a value on their system, even though it's listed. It's being insured at my perceived value of R135,000.

satanboy said:
The higher your premium, the more commission the broker earns. My insurance is with Santam and I have been happy with their service (claims are paid out fast). I have no experience with Auto & General.

Who is your broker? Big name or small guy?
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Understood, 12.5% as Hemi300c mentioned, and a R20 admin fee.

PSG Konsult. I've always been with Santam and was relatively happy with the two claims I've put in over the last 10 years. Hellopeter results seem to be in favour of A&G, but I'll take that with a pinch of salt.

I'm waiting for further particulars from my broker as to why I should go with Santam.
 
Hey PP, I'm in the same boat as per your scenario. Currently with Santam paying R1159.98 premium for 2009 Jetta 1.9 TDI (R118,600.00) & household cover (R197,000.00)

I have shopped around for comparative quotes from the likes of Dial-Direct, Miway, Mutual & Federal & Alexander Forbes. I could save max R300.00 per month with Dial Direct, but I came to the conclusion that I will stick it out with Santam based on;

1) Had a vehicle write-off in 2013 - Claim paid after 2 weeks
2) Accident damage worth R42,000.00 in 2012 - Claim processed within 4 days

I do not have any hassles/stress when submitting a claim to Santam.
There is no excess applicable, the premium includes an excess waiver.

So I am quite happy knowing that I am paying inflated premium based on my claims history, but have the assurance that my future claims will be paid. So this gives me peace of mind.
 
If you car is not common beware of the "spare parts" clause and expect to be sitting with cash instead of a repaired vehicle.
 
A&G has a pretty bad record in my opinion and they run several other insurance companies.

Santam and Mutual Federal are the only ones I feel comfortable with.
 
RTC said:
Hey PP, I'm in the same boat as per your scenario. Currently with Santam paying R1159.98 premium for 2009 Jetta 1.9 TDI (R118,600.00) & household cover (R197,000.00)

I have shopped around for comparative quotes from the likes of Dial-Direct, Miway, Mutual & Federal & Alexander Forbes. I could save max R300.00 per month with Dial Direct, but I came to the conclusion that I will stick it out with Santam based on;

1) Had a vehicle write-off in 2013 - Claim paid after 2 weeks
2) Accident damage worth R42,000.00 in 2012 - Claim processed within 4 days

I do not have any hassles/stress when submitting a claim to Santam.
There is no excess applicable, the premium includes an excess waiver.

So I am quite happy knowing that I am paying inflated premium based on my claims history, but have the assurance that my future claims will be paid. So this gives me peace of mind.
Click to expand...

I hear you, and feel similarly based on my experiences. If it's truly worth the premium then I'll stick with Santam. I'll see what the broker says, and if he can justify it along these lines, besides a higher excess and what I feel is a higher commission/kickback.

Hemi300c said:
If you car is not common beware of the "spare parts" clause and expect to be sitting with cash instead of a repaired vehicle.
Click to expand...

The parts are common, it's more the cosmetics which differ. A limited edition if you will (200 in SA).
 
I cannot comment on the differences between Santam and A&G iro policy wording or cover (I am happy to do this for you if you want?). However, I can say that Santam's claims' service is quite probably the best in the country at them moment, and they are constantly working to improve on that aspect of their business. A&G is unlikely to have the same footprint or buying power.
 
McT said:
I cannot comment on the differences between Santam and A&G iro policy wording or cover (I am happy to do this for you if you want?). However, I can say that Santam's claims' service is quite probably the best in the country at them moment, and they are constantly working to improve on that aspect of their business. A&G is unlikely to have the same footprint or buying power.
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Thanks for the offer.

I'd rather do a proper job, so if this is indeed the case, and it's based on the responses here, I must stay with Santam.
 
It's your right to shop around but paying 30% more than competitor is stiff.. i recommend shopping around some more! I'm with M&F and happy as can be..
 
Dubes said:
Could you elaborate on this point:



Specifically in light of this comment:
Click to expand...

Brokers with lower loss ratios will receive better (premium) rates. Going direct will get you about the same rate as a broker with a high loss ratio.
 
Santam claims service is probably the best I have ever come across. I rather pay a little bit more and in case of an accident can be certain that I get paid out quickly without hassles.
 
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