Securitas short term insurance vs...

[Hamster]

I'm currently insured with Santam through a broker. My friend tells me that he is insured with Securitas (underwritten by Hollard) and if I look at what he pays for car insurance vs. what I pay (he drives a BMW 135i and pays less than I do for my Elantra) it seems that Securitas is either to good to be true or Santam is ripping me off. He has claimed three times in the last couple of months (his driving ability is no up for discussion...very sensitive topic atm )

Anybody have any experience with these guys? Any problems when claiming? I trust my friend but he is only human and will benefit from me moving (referral program or something).

 

[noob_saibot]

I'm currently insured with Santam through a broker. My friend tells me that he is insured with Securitas (underwritten by Hollard) and if I look at what he pays for car insurance vs. what I pay (he drives a BMW 135i and pays less than I do for my Elantra) it seems that Securitas is either to good to be true or Santam is ripping me off. He has claimed three times in the last couple of months (his driving ability is no up for discussion...very sensitive topic atm )

Anybody have any experience with these guys? Any problems when claiming? I trust my friend but he is only human and will benefit from me moving (referral program or something).

This is partly why you are paying more. The brokers cut is added into the mix.

Try going directly to Santam and cut out your middle-man if you want to save a little (not sure if it is possible)

You can also shop around, get a free quote from outsurance(you get R400 if they can't match your quote), check on hippo and other short-term insurers (plenty to choose).

The only way to know if Securitas is as decent as your current policy is to comb over both the contracts and spot the holes in each.

 

[Hamster]

This is partly why you are paying more. The brokers cut is added into the mix.

Try going directly to Santam and cut out your middle-man if you want to save a little (not sure if it is possible)

You can also shop around, get a free quote from outsurance(you get R400 if they can't match your quote), check on hippo and other short-term insurers (plenty to choose).

The only way to know if Securitas is as decent as your current policy is to comb over both the contracts and spot the holes in each.

Thing is, he is getting cheaper through Securitas with a broker.

 

[^^vampire^^]

Santam doesn't allow you to go direct anymore as far as I know. Also your premium will be lower if you add house insurance.
My cover for just car is R900+ but car & home is R686.

Hollard is alright, haven't had any major problems with them however Santam has an excellent reputation and never had any issues with them or their services.

 

[satanboy]

The right Broker can get you lower premiums than going direct.

 

[Hamster]

Santam doesn't allow you to go direct anymore as far as I know. Also your premium will be lower if you add house insurance.
My cover for just car is R900+ but car & home is R686.

Hollard is alright, haven't had any major problems with them however Santam has an excellent reputation and never had any issues with them or their services.

My house insurance is added to get me a discount. I asked earlier this year why the car was still so high and they said it was because of its value...after three years basically the same amount.

The right Broker can get you lower premiums than going direct.

Yeah, I'll get a quote from Securitas and then ask my broker what's up.

 

[borga]

My cover for just car is R900+ but car & home is R686.

I have the same situation, why is it like that?

Why is getting more insurance cheaper than just taking the car, since they have a higher risk as you could claim for the car and the home vs just the car.

 

[^^vampire^^]

Easier to beat the competitors - all the business is better than some of the business - meaning you can strangle your competitors by allowing no business to come their way. This way they win and it appears that you win.

Also, don't be fooled into thinking these big companies need your direct business. There are so many side deals happening through other purchases you make that they are funded hugely from these. I used to work for a huge company that used to outsource some of the insurance processes. People who had bought a car using Standard Bank finance had to pay a mandatory R110 insurance fee included in the fee monthly. This equated to roughly R4 million rand every Monday. To a large extent I don't even think the business is aware that this money still comes in. It just gets added to the stockpile and policies marked as paid for the month.