R500 billion disaster

[Lupus]

And I said it should not cost the same. Mandatory insurance will also not bring premiums down and only increase them.

Sure for those who are paying 0 it would increase it. But for those that pay it'll bring them down or even lower excess. As 70% not being insured is the biggest risk to insurance companies.
I mean 3rd party now is already cheap, but people still don't seem to pay it cause they believe insurance is expensive.

 

[Swa]

Sure for those who are paying 0 it would increase it. But for those that pay it'll bring them down or even lower excess. As 70% not being insured is the biggest risk to insurance companies.
I mean 3rd party now is already cheap, but people still don't seem to pay it cause they believe insurance is expensive.

Explain cheap. Insurance is pretty expensive already and it's mostly those people who have 3rd party. Rather reduce insurance costs and more people will also have 3rd party.

But that ignores the issue. Someone who currently pays little to nothing for RAF don't have a reason to pay for 3rd party. It won't be cheap if it's mandatory and insurers suddenly have to pay out an influx of claims.

 

[Lupus]

Explain cheap. Insurance is pretty expensive already and it's mostly those people who have 3rd party. Rather reduce insurance costs and more people will also have 3rd party.

But that ignores the issue. Someone who currently pays little to nothing for RAF don't have a reason to pay for 3rd party. It won't be cheap if it's mandatory and insurers suddenly have to pay out an influx of claims.

3rd party is cheap, it's probably at most R200 a month. I mean my cars on comprehensive are just over R500.
Now if you only drove your car 20km a month and had no other issues it'll be cheap. Remember its only covering the 3rd party not you, so it doesn't even matter what car really. Maybe over 25 years it might matter.
Plus why would they suddenly need to pay out massive amounts of claims?? Plus what do you think currently happens when a non insured drives into an insured?

 

[Swa]

3rd party is cheap, it's probably at most R200 a month. I mean my cars on comprehensive are just over R500.
Now if you only drove your car 20km a month and had no other issues it'll be cheap. Remember its only covering the 3rd party not you, so it doesn't even matter what car really. Maybe over 25 years it might matter.

Only aware of one insurer that offers pay as you drive. Also don't know if it covers the 3rd party part.

Plus why would they suddenly need to pay out massive amounts of claims?? Plus what do you think currently happens when a non insured drives into an insured?

Injury claims?

 

[Arthur]

Couple of easy steps:

Create a set price list, if you lose a thumb R20k, a pinky R1000 etc.

Ban all lawyers.

All people injured must be assessed by a RAF appointed medical doctor and reassessed by another doctor to avoid collusion.

Can also ask for a small fee, the big insurance guys take over the assessment and payment of claims.

A set or predetermined compensation for a loss would be unjust and further destroy an important element of compensation long recognised in law since Roman times. It also completely ignores proveable consequential damages, as well as the variations in harm arrising from pain and suffering, disfigurement, loss of function, and so on.

 

[rh1]

A set or predetermined compensation for a loss would be unjust and further destroy an important element of compensation long recognised in law since Roman times. It also completely ignores proveable consequential damages, as well as the variations in harm arrising from pain and suffering, disfigurement, loss of function, and so on.

Like I said no lawyers